State of Wyoming Takes $508,000 Position in Forum Energy Technologies, Inc. $FET

State of Wyoming bought a new stake in Forum Energy Technologies, Inc. (NYSE:FET) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,105 shares of the oil and gas company’s stock, valued at approximately $508,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in Forum Energy Technologies during the fourth 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 approximately $37,000. Tower Research Capital LLC TRC grew its stake 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 during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Forum Energy Technologies in the 4th quarter worth approximately $75,000. Finally, Osaic Holdings Inc. acquired a new position in shares of Forum Energy Technologies in the 2nd quarter worth approximately $78,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Stock Up 1.1%

Shares of NYSE:FET opened at $86.28 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 2.19 and a debt-to-equity ratio of 0.49. The firm has a market cap of $970.65 million, a P/E ratio of -575.16, a P/E/G ratio of 2.70 and a beta of 0.53. Forum Energy Technologies, Inc. has a 12 month low of $23.04 and a 12 month high of $87.09. The company’s 50-day moving average price is $57.70 and its two-hundred day moving average price is $56.51.

Forum Energy Technologies (NYSE:FET) last announced 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 negative net margin of 0.19% and a positive return on equity of 9.45%. The company had revenue of $226.22 million during the quarter, compared to the consensus estimate of $212.35 million. As a group, research analysts forecast that Forum Energy Technologies, Inc. will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Forum Energy Technologies news, EVP John C. Ivascu sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $81.22, for a total transaction of $406,100.00. Following the transaction, the executive vice president owned 80,512 shares of the company’s stock, valued at approximately $6,539,184.64. This represents a 5.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Dewayne Danford sold 1,500 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $78.91, for a total value of $118,365.00. Following the completion of the transaction, the senior vice president owned 52,639 shares in the company, valued at $4,153,743.49. The trade was a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,500 shares of company stock valued at $877,615. 7.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. Finally, Zacks Research raised 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 company’s stock. According to MarketBeat.com, Forum Energy Technologies 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.