De Lisle Partners LLP Purchases Shares of 226,889 Forum Energy Technologies, Inc. $FET

De Lisle Partners LLP acquired a new position in Forum Energy Technologies, Inc. (NYSE:FET) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 226,889 shares of the oil and gas company’s stock, valued at approximately $11,389,000. Forum Energy Technologies makes up about 1.2% of De Lisle Partners LLP’s investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of Forum Energy Technologies during the 4th quarter valued at approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Forum Energy Technologies during the fourth quarter worth $37,000. Tower Research Capital LLC TRC grew its position in Forum Energy Technologies by 558.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 1,771 shares during the period. Kemnay Advisory Services Inc. purchased a new position in Forum Energy Technologies in the fourth quarter valued at $75,000. Finally, Osaic Holdings Inc. purchased a new position in Forum Energy Technologies in the second quarter valued at $78,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Insider Buying and Selling at Forum Energy Technologies

In other news, EVP John C. Ivascu sold 5,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $70.63, for a total transaction of $353,150.00. Following the completion of the sale, the executive vice president owned 85,512 shares of the company’s stock, valued at $6,039,712.56. The trade was a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Dewayne Danford sold 1,500 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $78.91, for a total transaction of $118,365.00. Following the transaction, the senior vice president owned 52,639 shares of the company’s stock, valued at approximately $4,153,743.49. This trade represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 11,500 shares of company stock worth $877,615. Insiders own 7.70% of the company’s stock.

Forum Energy Technologies Trading Down 1.0%

Shares of NYSE:FET opened at $77.82 on Friday. The business’s 50 day moving average price is $59.89 and its 200-day moving average price is $57.41. Forum Energy Technologies, Inc. has a 1 year low of $23.61 and a 1 year high of $87.42. The firm has a market capitalization of $875.47 million, a price-to-earnings ratio of -518.77, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 1.13.

Forum Energy Technologies (NYSE:FET) last issued 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. The company had revenue of $226.22 million during the quarter, compared to analyst estimates of $212.35 million. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. On average, equities research analysts forecast that Forum Energy Technologies, Inc. will post 3.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FET has been the topic of several recent analyst reports. Zacks Research raised shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings restated 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

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.