BNP Paribas Financial Markets Purchases New Shares in Forum Energy Technologies, Inc. (NYSE:FET)

BNP Paribas Financial Markets acquired a new position in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,343 shares of the oil and gas company's stock, valued at approximately $269,000. BNP Paribas Financial Markets owned approximately 0.14% of Forum Energy Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FET. Russell Investments Group Ltd. raised its holdings in shares of Forum Energy Technologies by 63.7% in the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 859 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Forum Energy Technologies by 126.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,360 shares of the oil and gas company's stock valued at $37,000 after buying an additional 1,319 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Forum Energy Technologies by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 8,423 shares of the oil and gas company's stock valued at $130,000 after buying an additional 2,479 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Forum Energy Technologies by 71.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company's stock valued at $137,000 after buying an additional 3,693 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Forum Energy Technologies during the 4th quarter valued at about $160,000. Hedge funds and other institutional investors own 65.60% of the company's stock.

Forum Energy Technologies Price Performance

Shares of NYSE FET traded down $0.21 during trading hours on Friday, reaching $14.75. 57,198 shares of the stock traded hands, compared to its average volume of 62,944. The company has a market capitalization of $182.46 million, a P/E ratio of -1.34 and a beta of 0.73. 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 52-week low of $12.78 and a 52-week high of $21.57. The company's 50-day simple moving average is $15.56 and its two-hundred day simple moving average is $16.56.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its quarterly earnings results 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 return on equity of 2.39% and a negative net margin of 16.57%. 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) earnings per share.

Insider Transactions at Forum Energy Technologies

In other Forum Energy Technologies news, CEO Neal Lux acquired 9,129 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were 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 in the company, valued at $3,746,212.50. This represents a 4.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.90% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Forum Energy Technologies from a "hold" rating to a "buy" rating in a 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.