Bridgeway Capital Management LLC Purchases 5,807 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Bridgeway Capital Management LLC boosted its position in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,331 shares of the oil and gas company’s stock after buying an additional 5,807 shares during the period. Bridgeway Capital Management LLC’s holdings in Forum Energy Technologies were worth $1,120,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in Forum Energy Technologies by 86.0% in the third quarter. Barclays PLC now owns 27,714 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 12,810 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Forum Energy Technologies by 71.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 3,693 shares in the last quarter. Monaco Asset Management SAM grew its holdings in shares of Forum Energy Technologies by 9.8% during 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 last quarter. Tejara Capital Ltd increased its position in 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 worth $3,571,000 after purchasing an additional 11,736 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Forum Energy Technologies by 41.0% in the 4th quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company’s stock valued at $1,114,000 after purchasing an additional 20,925 shares during the last quarter. 65.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th.

Insider Transactions at Forum Energy Technologies

In related news, CEO Neal Lux purchased 9,129 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $17.65 per share, with a total value of $161,126.85. Following the completion of the purchase, the chief executive officer now owns 212,250 shares in the company, valued at approximately $3,746,212.50. This represents a 4.49 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 6.90% of the stock is owned by company insiders.

Forum Energy Technologies Price Performance

Forum Energy Technologies stock opened at $14.68 on Friday. The stock has a 50-day moving average price of $16.71 and a two-hundred day moving average price of $16.53. Forum Energy Technologies, Inc. has a 12 month low of $12.78 and a 12 month high of $21.57. The company has a market capitalization of $181.59 million, a PE ratio of -1.34 and a beta of 0.73. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, May 1st. The oil and gas company reported $0.04 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 business had revenue of $193.30 million for the quarter, compared to analyst estimates of $196.45 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share.

Forum Energy Technologies Company 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.