JPMorgan Chase & Co. Acquires 39,364 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

JPMorgan Chase & Co. raised its position in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 445.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 48,209 shares of the oil and gas company's stock after purchasing an additional 39,364 shares during the period. JPMorgan Chase & Co. owned 0.39% of Forum Energy Technologies worth $747,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Forum Energy Technologies by 6.9% during the third quarter. State Street Corp now owns 198,479 shares of the oil and gas company's stock worth $3,068,000 after buying an additional 12,785 shares during the last quarter. Barclays PLC raised its position in shares of Forum Energy Technologies by 86.0% in the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company's stock worth $428,000 after acquiring an additional 12,810 shares in the last quarter. Monaco Asset Management SAM lifted its stake in shares of 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 valued at $1,164,000 after purchasing an additional 6,709 shares during the period. Tejara Capital Ltd boosted 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 in the last quarter. Finally, American Century Companies Inc. grew its stake in Forum Energy Technologies by 41.0% during the fourth quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company's stock worth $1,114,000 after purchasing an additional 20,925 shares during the period. Institutional investors and hedge funds own 65.60% of the company's stock.

Forum Energy Technologies Stock Down 0.8 %

Shares of FET stock traded down $0.12 on Friday, reaching $15.02. 102,302 shares of the company were exchanged, compared to its average volume of 61,636. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 0.87. The company has a 50-day moving average of $17.11 and a 200-day moving average of $16.55. The company has a market cap of $185.80 million, a price-to-earnings ratio of -1.37 and a beta of 1.74. Forum Energy Technologies, Inc. has a one year low of $12.78 and a one year high of $21.57.

Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported $0.04 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $193.30 million during the quarter, compared to analyst estimates of $196.45 million. During the same period last year, the business posted ($0.12) EPS.

Insider Activity

In related news, CEO Neal Lux acquired 9,129 shares of the company's stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $17.65 per share, for a total transaction of $161,126.85. Following the purchase, the chief executive officer now owns 212,250 shares in the company, valued at approximately $3,746,212.50. The trade was a 4.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Forum Energy Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, March 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.