71,800 Shares in Forum Energy Technologies, Inc. $FET Bought by JB Capital Partners LP

JB Capital Partners LP purchased a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,800 shares of the oil and gas company’s stock, valued at approximately $1,398,000. JB Capital Partners LP owned 0.60% of Forum Energy Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC lifted its position in shares of Forum Energy Technologies by 196.6% during the 1st quarter. Headlands Technologies LLC now owns 1,237 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 820 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Forum Energy Technologies during the 2nd quarter valued at $208,000. Quadrature Capital Ltd bought a new stake in Forum Energy Technologies in the 2nd quarter valued at $235,000. Bailard Inc. acquired a new stake in Forum Energy Technologies in the 2nd quarter worth $255,000. Finally, Empowered Funds LLC increased its holdings in shares of Forum Energy Technologies by 8.8% during the 1st quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 1,127 shares during the period. 65.60% of the stock is owned by institutional investors and hedge funds.

Forum Energy Technologies Stock Performance

NYSE:FET opened at $34.75 on Friday. The firm has a market capitalization of $395.46 million, a PE ratio of -3.68, a price-to-earnings-growth ratio of 8.04 and a beta of 0.58. The company has a quick ratio of 1.01, a current ratio of 2.19 and a debt-to-equity ratio of 0.47. Forum Energy Technologies, Inc. has a 12-month low of $12.78 and a 12-month high of $35.39. The firm has a 50-day moving average price of $29.12 and a 200 day moving average price of $23.81.

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

Analyst Ratings Changes

Several research firms recently weighed in on FET. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Wednesday, October 8th. Zacks Research raised Forum Energy Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen raised Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

About Forum Energy Technologies

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.