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 company’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 sale, the executive vice president directly owned 80,512 shares of the company’s stock, valued at approximately $6,539,184.64. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Performance

Shares of NYSE:FET opened at $82.47 on Friday. The firm’s 50 day simple moving average is $56.33 and its 200 day simple moving average is $55.92. Forum Energy Technologies, Inc. has a fifty-two week low of $22.17 and a fifty-two week high of $85.00. The company has a market capitalization of $927.75 million, a price-to-earnings ratio of -549.74, a P/E/G ratio of 3.38 and a beta of 0.53. 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 (NYSE:FET) last issued its quarterly earnings data 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. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. The firm had revenue of $226.22 million during the quarter, compared to analysts’ expectations of $212.35 million. As a group, sell-side analysts forecast that Forum Energy Technologies, Inc. will post 3.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on FET shares. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Friday, July 17th. Zacks Research upgraded Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. One equities research 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, the company currently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in shares of Forum Energy Technologies in the fourth quarter valued at approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth $37,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 worth $41,000 after acquiring an additional 1,771 shares during the period. Kemnay Advisory Services Inc. bought a new stake in Forum Energy Technologies in the 4th quarter valued at $75,000. Finally, Osaic Holdings Inc. bought a new stake in Forum Energy Technologies in the 2nd quarter valued at $78,000. Institutional investors 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.