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

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $70.63, for a total value of $353,150.00. Following the sale, the executive vice president directly owned 85,512 shares in the company, valued at approximately $6,039,712.56. This represents a 5.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Forum Energy Technologies Stock Up 5.3%

Shares of NYSE:FET traded up $3.72 during trading on Tuesday, hitting $74.07. 429,773 shares of the company’s stock traded hands, compared to its average volume of 200,920. Forum Energy Technologies, Inc. has a 52 week low of $18.12 and a 52 week high of $74.77. The company has a current ratio of 2.23, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. The company has a market cap of $837.31 million, a price-to-earnings ratio of -493.78, a price-to-earnings-growth ratio of 3.63 and a beta of 0.54. The company has a 50-day moving average price of $52.24 and a 200-day moving average price of $53.88.

Forum Energy Technologies (NYSE:FET) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.60. The business had revenue of $226.22 million during the quarter, compared to analysts’ expectations of $212.35 million. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%. As a group, research analysts forecast that Forum Energy Technologies, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FET shares. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Friday, July 17th. Wall Street Zen upgraded Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Zacks Research lowered Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Forum Energy Technologies presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in Forum Energy Technologies during the 4th quarter worth about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Forum Energy Technologies in the fourth quarter valued at about $37,000. Kemnay Advisory Services Inc. bought a new stake in Forum Energy Technologies during the fourth quarter worth about $75,000. Tower Research Capital LLC TRC boosted 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 purchasing an additional 1,771 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Forum Energy Technologies in the first quarter valued at approximately $126,000. Institutional investors own 65.60% of the company’s stock.

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.