Michael Dewayne Danford Sells 1,500 Shares of Forum Energy Technologies (NYSE:FET) Stock

Forum Energy Technologies, Inc. (NYSE:FET) SVP Michael Dewayne Danford sold 1,500 shares of the business’s stock in a transaction on 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 directly owned 52,639 shares of the company’s stock, valued at approximately $4,153,743.49. This represents a 2.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Dewayne Danford also recently made the following trade(s):

• On Wednesday, May 13th, Michael Dewayne Danford sold 3,000 shares of Forum Energy Technologies stock. The stock was sold at an average price of $55.49, for a total value of $166,470.00.

Forum Energy Technologies Price Performance

NYSE FET opened at $83.20 on Thursday. The stock has a 50-day simple moving average of $55.75 and a 200 day simple moving average of $55.65. Forum Energy Technologies, Inc. has a twelve month low of $22.17 and a twelve month high of $84.75. The stock has a market capitalization of $935.67 million, a PE ratio of -554.63, a P/E/G ratio of 3.39 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 2.19.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FET shares. Zacks Research raised shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Friday, July 17th. 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 investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Trading of Forum Energy Technologies

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC increased its position in shares of Forum Energy Technologies by 8.8% during the first quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company’s stock valued at $280,000 after purchasing an additional 1,127 shares during the period. Jane Street Group LLC lifted its position in Forum Energy Technologies by 53.6% in the first quarter. Jane Street Group LLC now owns 19,970 shares of the oil and gas company’s stock worth $402,000 after purchasing an additional 6,971 shares during the period. JPMorgan Chase & Co. boosted its stake in Forum Energy Technologies by 204.3% during the second quarter. JPMorgan Chase & Co. now owns 161,596 shares of the oil and gas company’s stock worth $3,146,000 after buying an additional 108,490 shares in the last quarter. Rhumbline Advisers boosted its stake in Forum Energy Technologies by 9.4% during the second quarter. Rhumbline Advisers now owns 20,686 shares of the oil and gas company’s stock worth $403,000 after buying an additional 1,781 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Forum Energy Technologies in the 2nd quarter valued at $188,000. Institutional investors and hedge funds 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.