Renaissance Technologies LLC Boosts Stock Holdings in Forum Energy Technologies, Inc. (NYSE:FET)

Renaissance Technologies LLC increased its position in Forum Energy Technologies, Inc. (NYSE:FET) by 21.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,900 shares of the oil and gas company’s stock after acquiring an additional 14,300 shares during the period. Renaissance Technologies LLC owned about 0.65% of Forum Energy Technologies worth $1,347,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in Forum Energy Technologies in the 1st quarter worth approximately $221,000. Pickering Energy Partners LP bought a new position in shares of Forum Energy Technologies during the 4th quarter valued at $279,000. Rhumbline Advisers grew its holdings in shares of Forum Energy Technologies by 24.5% in the second quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company’s stock worth $295,000 after acquiring an additional 3,437 shares during the period. Bank of New York Mellon Corp increased its position in Forum Energy Technologies by 19.5% during the second quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock valued at $939,000 after acquiring an additional 9,090 shares during the last quarter. Finally, Icon Wealth Advisors LLC purchased a new stake in Forum Energy Technologies during the fourth quarter valued at $2,034,000. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Forum Energy Technologies Price Performance

Shares of NYSE:FET opened at $16.16 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.69 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $198.51 million, a PE ratio of -6.85 and a beta of 2.44. The firm’s 50 day moving average price is $16.47 and its 200-day moving average price is $17.54. Forum Energy Technologies, Inc. has a twelve month low of $14.63 and a twelve month high of $24.48.

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

Insider Activity at Forum Energy Technologies

In other Forum Energy Technologies news, CEO Neal Lux bought 4,500 shares of the firm’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 145,890 shares of the company’s stock, valued at $2,220,445.80. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.20% of the stock is owned by corporate insiders.

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.