ETRADE Capital Management LLC acquired a new stake in Forum Energy Technologies (NYSE:FET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,687 shares of the oil and gas company’s stock, valued at approximately $213,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in FET. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Forum Energy Technologies by 86.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 4,429 shares during the period. MML Investors Services LLC acquired a new position in shares of Forum Energy Technologies in the fourth quarter valued at approximately $159,000. Amalgamated Bank acquired a new position in shares of Forum Energy Technologies in the fourth quarter valued at approximately $167,000. SG Americas Securities LLC acquired a new position in shares of Forum Energy Technologies in the third quarter valued at approximately $185,000. Finally, MHI Funds LLC acquired a new position in shares of Forum Energy Technologies in the fourth quarter valued at approximately $218,000. Institutional investors and hedge funds own 94.25% of the company’s stock.
FET stock traded down $0.50 during midday trading on Friday, hitting $11.05. The stock had a trading volume of 787,512 shares, compared to its average volume of 1,310,800. The stock has a market cap of $1,172.23, a P/E ratio of -29.08 and a beta of 1.90. Forum Energy Technologies has a 52 week low of $10.05 and a 52 week high of $21.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.65 and a quick ratio of 1.61.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 2.98%. The company had revenue of $247.70 million for the quarter, compared to the consensus estimate of $249.85 million. During the same period in the previous year, the business posted ($0.16) earnings per share. The firm’s revenue was up 68.4% compared to the same quarter last year. equities research analysts anticipate that Forum Energy Technologies will post 0.01 EPS for the current year.
In other news, CEO Prady Iyyanki acquired 90,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average cost of $10.63 per share, for a total transaction of $956,700.00. Following the completion of the transaction, the chief executive officer now directly owns 443,417 shares in the company, valued at $4,713,522.71. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.80% of the stock is owned by company insiders.
FET has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Capital One Financial raised shares of Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, February 9th. Cowen set a $13.00 target price on shares of Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, January 11th. Jefferies Group raised shares of Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, February 13th. Finally, TheStreet upgraded shares of Forum Energy Technologies from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Forum Energy Technologies presently has an average rating of “Hold” and an average target price of $15.79.
WARNING: “ETRADE Capital Management LLC Buys New Holdings in Forum Energy Technologies (NYSE:FET)” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/07/etrade-capital-management-llc-purchases-new-stake-in-forum-energy-technologies-inc-fet.html.
Forum Energy Technologies Profile
Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.
Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.