Tejara Capital Ltd Has $4.25 Million Stock Holdings in Forum Energy Technologies, Inc. $FET

Tejara Capital Ltd decreased its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,989 shares of the oil and gas company’s stock after selling 20,048 shares during the quarter. Forum Energy Technologies accounts for approximately 2.2% of Tejara Capital Ltd’s holdings, making the stock its 13th biggest position. Tejara Capital Ltd owned approximately 1.34% of Forum Energy Technologies worth $4,247,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Keyframe Capital Partners L.P. grew its stake in Forum Energy Technologies by 8.5% during the 2nd quarter. Keyframe Capital Partners L.P. now owns 848,519 shares of the oil and gas company’s stock valued at $16,521,000 after acquiring an additional 66,322 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Forum Energy Technologies by 3.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the oil and gas company’s stock valued at $7,906,000 after buying an additional 8,917 shares during the period. American Century Companies Inc. increased its stake in Forum Energy Technologies by 69.4% in the 2nd quarter. American Century Companies Inc. now owns 234,735 shares of the oil and gas company’s stock valued at $4,570,000 after buying an additional 96,175 shares during the period. De Lisle Partners LLP lifted its position in Forum Energy Technologies by 7.4% in the 2nd quarter. De Lisle Partners LLP now owns 217,242 shares of the oil and gas company’s stock worth $4,235,000 after buying an additional 15,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Forum Energy Technologies by 204.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 161,596 shares of the oil and gas company’s stock valued at $3,146,000 after buying an additional 108,490 shares during the period. 65.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FET has been the topic of a number of research reports. Zacks Research raised shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Wall Street Zen lowered Forum Energy Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Forum Energy Technologies Stock Performance

FET opened at $45.29 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 2.19. The company has a market cap of $515.35 million, a PE ratio of -4.79, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59. The stock has a 50-day moving average of $37.53 and a 200-day moving average of $29.84. Forum Energy Technologies, Inc. has a 52-week low of $12.78 and a 52-week high of $46.30.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Friday, October 31st. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.08. The firm had revenue of $196.23 million during the quarter, compared to analyst estimates of $194.35 million. Forum Energy Technologies had a negative return on equity of 1.07% and a negative net margin of 14.58%.

About Forum Energy Technologies

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.