Forum Energy Technologies (NYSE:FET) EVP Sells $406,100.00 in Stock

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 5,000 shares of Forum Energy Technologies stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $81.22, for a total value of $406,100.00. Following the sale, the executive vice president owned 80,512 shares of the company’s stock, valued at approximately $6,539,184.64. This trade represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Forum Energy Technologies Stock Up 3.7%

Shares of FET opened at $85.43 on Friday. The firm has a fifty day moving average price of $57.03 and a 200-day moving average price of $56.13. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $961.10 million, a P/E ratio of -569.50, a P/E/G ratio of 3.37 and a beta of 0.53. Forum Energy Technologies, Inc. has a 12-month low of $22.79 and a 12-month high of $86.25.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.56 by $0.60. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. The company had revenue of $226.22 million for the quarter, compared to the consensus estimate of $212.35 million. Equities research analysts expect that Forum Energy Technologies, Inc. will post 3.06 earnings per share for the current year.

Institutional Trading of Forum Energy Technologies

A number of hedge funds have recently added to or reduced their stakes in FET. Meeder Asset Management Inc. bought a new position in Forum Energy Technologies during the 4th quarter worth about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Forum Energy Technologies in the 4th quarter valued at about $37,000. Tower Research Capital LLC TRC raised its holdings in shares of Forum Energy Technologies by 558.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 1,771 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Forum Energy Technologies in the 4th quarter worth approximately $75,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of Forum Energy Technologies in the 2nd quarter worth approximately $78,000. 65.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FET shares. Wall Street Zen raised shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. Zacks Research upgraded Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Forum Energy Technologies Company Profile

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.