Tejara Capital Ltd Sells 129,196 Shares of Forum Energy Technologies, Inc. $FET

Key Points

• Tejara Capital Ltd sharply reduced its stake in Forum Energy Technologies, selling 129,196 shares in the fourth quarter and cutting its holdings by 81.3% to 29,793 shares worth about $1.1 million.
• Institutional ownership remains substantial, with several other hedge funds and investors increasing or initiating positions in FET; overall, institutions own about 65.6% of the stock.
• Forum Energy Technologies recently beat quarterly expectations, reporting EPS of $0.47 versus the $0.44 estimate and revenue of $208.7 million, while analyst sentiment is mixed but currently leans to a Moderate Buy.

Tejara Capital Ltd decreased its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 81.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,793 shares of the oil and gas company's stock after selling 129,196 shares during the quarter. Tejara Capital Ltd owned approximately 0.26% of Forum Energy Technologies worth $1,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FET. JB Capital Partners LP lifted its stake in shares of Forum Energy Technologies by 68.2% during the 3rd quarter. JB Capital Partners LP now owns 120,800 shares of the oil and gas company's stock worth $3,227,000 after buying an additional 49,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Forum Energy Technologies by 62.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company's stock valued at $7,006,000 after buying an additional 100,720 shares during the last quarter. Ritholtz Wealth Management bought a new position in Forum Energy Technologies in the 4th quarter valued at about $1,196,000. Strs Ohio raised its holdings in Forum Energy Technologies by 468.4% in the 3rd quarter. Strs Ohio now owns 21,600 shares of the oil and gas company's stock valued at $577,000 after acquiring an additional 17,800 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Forum Energy Technologies by 558.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company's stock worth $41,000 after acquiring an additional 1,771 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FET shares. Wall Street Zen upgraded Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Forum Energy Technologies in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded Forum Energy Technologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Forum Energy Technologies currently has a consensus rating of "Moderate Buy".

Forum Energy Technologies Price Performance

Shares of Forum Energy Technologies stock opened at $55.98 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.23 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $632.62 million, a price-to-earnings ratio of -94.89, a price-to-earnings-growth ratio of 3.38 and a beta of 0.60. Forum Energy Technologies, Inc. has a twelve month low of $14.17 and a twelve month high of $65.43. The company has a 50-day simple moving average of $58.51 and a two-hundred day simple moving average of $46.14.

Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $208.70 million for the quarter, compared to analyst estimates of $201.30 million. Analysts forecast that Forum Energy Technologies, Inc. will post 2.07 EPS for the current year.

Insider Buying and Selling

In other news, EVP John C. Ivascu sold 4,392 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $60.01, for a total transaction of $263,563.92. Following the completion of the sale, the executive vice president directly owned 81,599 shares in the company, valued at approximately $4,896,755.99. This represents a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Dewayne Danford sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $55.49, for a total value of $166,470.00. Following the sale, the senior vice president directly owned 54,139 shares in the company, valued at approximately $3,004,173.11. This trade represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.70% of the company's stock.

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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