Bank of New York Mellon Corp Purchases 9,090 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Bank of New York Mellon Corp lifted its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 19.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,691 shares of the oil and gas company’s stock after buying an additional 9,090 shares during the period. Bank of New York Mellon Corp owned approximately 0.45% of Forum Energy Technologies worth $939,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Forum Energy Technologies by 0.7% during the first quarter. Vanguard Group Inc. now owns 538,148 shares of the oil and gas company’s stock worth $10,752,000 after buying an additional 3,516 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Forum Energy Technologies by 0.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 253,898 shares of the oil and gas company’s stock worth $5,073,000 after purchasing an additional 806 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth approximately $2,034,000. Panagora Asset Management Inc. raised its holdings in shares of Forum Energy Technologies by 20.4% in the 4th quarter. Panagora Asset Management Inc. now owns 18,795 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 3,186 shares during the period. Finally, Pickering Energy Partners LP purchased a new position in Forum Energy Technologies in the fourth quarter valued at approximately $279,000. 65.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Forum Energy Technologies news, CEO Neal Lux purchased 4,500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $15.22 per share, with a total value of $68,490.00. Following the completion of the transaction, the chief executive officer now directly owns 145,890 shares in the company, valued at approximately $2,220,445.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.20% of the company’s stock.

Forum Energy Technologies Price Performance

Shares of NYSE FET opened at $16.61 on Friday. The company has a current ratio of 2.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $16.78 and a two-hundred day simple moving average of $17.71. Forum Energy Technologies, Inc. has a 1-year low of $14.63 and a 1-year high of $25.23. The firm has a market cap of $204.04 million, a price-to-earnings ratio of -7.04 and a beta of 2.45.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.11). Forum Energy Technologies had a negative return on equity of 1.37% and a negative net margin of 3.34%. The firm had revenue of $205.20 million for the quarter. During the same period last year, the firm earned $0.10 EPS.

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.