Insider Selling: Forum Energy Technologies (NYSE:FET) EVP Sells $63,056.00 in Stock

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $90.08, for a total transaction of $63,056.00. Following the transaction, the executive vice president owned 79,812 shares in the company, valued at $7,189,464.96. This represents a 0.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Forum Energy Technologies Price Performance

Shares of NYSE:FET opened at $88.76 on Friday. The stock has a market cap of $998.55 million, a price-to-earnings ratio of -591.69, a PEG ratio of 2.83 and a beta of 0.68. 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, Inc. has a 12 month low of $26.00 and a 12 month high of $91.99. The stock’s 50 day moving average price is $82.45 and its 200 day moving average price is $62.54.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.29. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%. The firm had revenue of $236.81 million during the quarter, compared to analyst estimates of $233.35 million. Equities research analysts anticipate that Forum Energy Technologies, Inc. will post 4.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Zacks Research cut Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Forum Energy Technologies has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Forum Energy Technologies

Several large investors have recently modified their holdings of FET. JB Capital Partners LP acquired a new stake in shares of Forum Energy Technologies during the second quarter worth $6,067,784. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Forum Energy Technologies by 66.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 152,403 shares of the oil and gas company’s stock valued at $8,940,000 after purchasing an additional 60,711 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Forum Energy Technologies during the second quarter valued at $1,811,000. Public Employees Retirement System of Ohio acquired a new position in shares of Forum Energy Technologies in the 2nd quarter valued at $997,000. Finally, Deutsche Bank AG acquired a new position in shares of Forum Energy Technologies in the 2nd quarter valued at $629,000. 65.60% of the stock is owned by institutional investors.

About Forum Energy Technologies

Forum Energy Technologies, Inc (NYSE:FET) is a global manufacturer of oilfield and industrial equipment serving the exploration, development and production segments of the energy industry. The company designs and supplies products used in drilling, well completion, production and subsea operations.

Forum’s product offerings include drilling and downhole tools, drilling motors, wireline and well-intervention equipment, pressure-control systems, hydraulic-fracturing and stimulation equipment, artificial-lift products, and subsea remotely operated vehicle systems.