Ritholtz Wealth Management Buys Shares of 32,355 Forum Energy Technologies, Inc. $FET

Key Points

• Ritholtz Wealth Management bought a new stake of 32,355 shares in Forum Energy Technologies (NYSE:FET) during Q4, valued at about $1.196 million and representing roughly a 0.28% ownership.
• Institutional investors own 65.6% of FET while insiders hold 7.7%, and EVP John C. Ivascu disclosed selling 4,392 shares at $60.01 on March 2.
• Analyst sentiment is mixed with an average rating of "Reduce", even as FET beat quarterly estimates with EPS of $0.41 (vs. $0.36) and revenue of $202.2 million (vs. $190.5 million).

Ritholtz Wealth Management bought a new stake in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 32,355 shares of the oil and gas company's stock, valued at approximately $1,196,000. Ritholtz Wealth Management owned about 0.28% of Forum Energy Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 108,490 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Forum Energy Technologies in the 3rd quarter valued at $1,961,000. Two Sigma Investments LP lifted its stake in shares of Forum Energy Technologies by 185.2% in the 3rd quarter. Two Sigma Investments LP now owns 109,839 shares of the oil and gas company's stock valued at $2,934,000 after purchasing an additional 71,328 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Forum Energy Technologies by 334.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 92,614 shares of the oil and gas company's stock valued at $2,474,000 after purchasing an additional 71,294 shares during the last quarter. Finally, Keyframe Capital Partners L.P. lifted its stake in shares of Forum Energy Technologies by 8.5% in the 2nd quarter. Keyframe Capital Partners L.P. now owns 848,519 shares of the oil and gas company's stock valued at $16,521,000 after purchasing an additional 66,322 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FET shares. Wall Street Zen raised Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 7th. Zacks Research lowered shares of Forum Energy Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Forum Energy Technologies in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce".

Insider Transactions at Forum Energy Technologies

In other Forum Energy Technologies news, EVP John C. Ivascu sold 4,392 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $60.01, for a total transaction of $263,563.92. Following the sale, the executive vice president directly owned 81,599 shares in the company, valued at $4,896,755.99. This represents a 5.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.70% of the company's stock.

Forum Energy Technologies Price Performance

FET opened at $58.86 on Wednesday. The stock's 50-day moving average price is $56.32 and its 200 day moving average price is $41.74. Forum Energy Technologies, Inc. has a 12-month low of $13.43 and a 12-month high of $63.58. The company has a current ratio of 2.17, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46. The firm has a market cap of $666.88 million, a price-to-earnings ratio of -66.13, a PEG ratio of 3.80 and a beta of 0.58.

Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its earnings results on Thursday, February 19th. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. Forum Energy Technologies had a positive return on equity of 2.40% and a negative net margin of 1.22%.The firm had revenue of $202.20 million for the quarter, compared to analyst estimates of $190.50 million.

Forum Energy Technologies Company 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.

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