Forum Energy Technologies, Inc. $FET Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management increased its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 67.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,295 shares of the oil and gas company’s stock after purchasing an additional 21,940 shares during the quarter. Ritholtz Wealth Management owned approximately 0.48% of Forum Energy Technologies worth $3,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Forum Energy Technologies by 8.8% during the first quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 1,127 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Forum Energy Technologies by 53.6% during the 1st quarter. Jane Street Group LLC now owns 19,970 shares of the oil and gas company’s stock worth $402,000 after buying an additional 6,971 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Forum Energy Technologies by 204.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 161,596 shares of the oil and gas company’s stock valued at $3,146,000 after buying an additional 108,490 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Forum Energy Technologies by 9.4% in the 2nd quarter. Rhumbline Advisers now owns 20,686 shares of the oil and gas company’s stock valued at $403,000 after buying an additional 1,781 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Forum Energy Technologies in the 2nd quarter valued at $188,000. 65.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FET has been the topic of several research analyst reports. Zacks Research lowered shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Tuesday, April 21st. Finally, Wall Street Zen cut Forum Energy Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Insider Transactions at Forum Energy Technologies

In other Forum Energy Technologies news, SVP Michael Dewayne Danford sold 3,000 shares of Forum Energy Technologies stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $55.49, for a total value of $166,470.00. Following the transaction, the senior vice president directly owned 54,139 shares in the company, valued at approximately $3,004,173.11. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.70% of the company’s stock.

Forum Energy Technologies Price Performance

FET stock opened at $50.33 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $568.75 million, a P/E ratio of -85.31, a PEG ratio of 2.87 and a beta of 0.53. The business has a 50 day simple moving average of $55.04 and a 200-day simple moving average of $50.87. Forum Energy Technologies, Inc. has a twelve month low of $18.12 and a twelve month high of $65.43.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. Forum Energy Technologies had a negative net margin of 0.78% and a positive return on equity of 4.15%. The business had revenue of $208.70 million for the quarter, compared to analysts’ expectations of $201.30 million. As a group, equities analysts anticipate that Forum Energy Technologies, Inc. will post 2.16 EPS for the current year.

Forum Energy Technologies Profile

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.