Bank of America Corp DE Acquires 37,744 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Bank of America Corp DE increased its holdings in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 57.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,605 shares of the oil and gas company's stock after buying an additional 37,744 shares during the quarter. Bank of America Corp DE owned 0.84% of Forum Energy Technologies worth $1,605,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Forum Energy Technologies by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 507,263 shares of the oil and gas company's stock worth $7,857,000 after acquiring an additional 18,236 shares during the period. Tejara Capital Ltd raised its position in shares of Forum Energy Technologies by 5.4% during the 4th quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company's stock valued at $3,571,000 after purchasing an additional 11,736 shares during the period. Northern Trust Corp lifted its stake in shares of Forum Energy Technologies by 5.8% during the 4th quarter. Northern Trust Corp now owns 105,301 shares of the oil and gas company's stock valued at $1,631,000 after buying an additional 5,807 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Forum Energy Technologies by 20.4% in the 4th quarter. Renaissance Technologies LLC now owns 105,075 shares of the oil and gas company's stock worth $1,628,000 after buying an additional 17,775 shares during the period. Finally, Monaco Asset Management SAM increased its stake in Forum Energy Technologies by 9.8% in the 4th quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company's stock worth $1,164,000 after buying an additional 6,709 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Forum Energy Technologies

In other news, CEO Neal Lux bought 9,129 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $17.65 per share, for a total transaction of $161,126.85. Following the transaction, the chief executive officer now owns 212,250 shares of the company's stock, valued at $3,746,212.50. The trade was a 4.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is currently owned by insiders.

Forum Energy Technologies Price Performance

NYSE FET traded up $0.73 during trading hours on Friday, reaching $16.52. The company's stock had a trading volume of 57,753 shares, compared to its average volume of 62,801. The firm's 50-day moving average price is $15.13 and its 200-day moving average price is $16.55. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Forum Energy Technologies, Inc. has a 1 year low of $12.78 and a 1 year high of $21.57. The company has a market capitalization of $204.33 million, a price-to-earnings ratio of -1.50 and a beta of 0.80.

Forum Energy Technologies (NYSE:FET - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.39). Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%. The company had revenue of $193.30 million for the quarter, compared to the consensus estimate of $196.45 million. During the same quarter in the previous year, the business earned ($0.12) EPS.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Forum Energy Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Forum Energy Technologies Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.