Forum Energy Technologies (NYSE:FET) EVP John Ivascu Sells 5,000 Shares of Stock

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $81.22, for a total value of $406,100.00. Following the completion of the transaction, the executive vice president directly owned 80,512 shares in the company, valued at $6,539,184.64. This represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Forum Energy Technologies Stock Up 0.2%

Shares of Forum Energy Technologies stock opened at $83.20 on Thursday. Forum Energy Technologies, Inc. has a one year low of $22.17 and a one year high of $84.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 1.13. The stock’s 50-day moving average is $55.75 and its 200 day moving average is $55.65. The firm has a market cap of $935.67 million, a price-to-earnings ratio of -554.63, a PEG ratio of 3.39 and a beta of 0.53.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Forum Energy Technologies

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of Forum Energy Technologies during the fourth quarter valued at approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Forum Energy Technologies in the 4th quarter worth $37,000. Tower Research Capital LLC TRC lifted 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 worth $41,000 after purchasing an additional 1,771 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Forum Energy Technologies in the 4th quarter valued at $75,000. Finally, Osaic Holdings Inc. acquired a new stake in Forum Energy Technologies in the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

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.