Forum Energy Technologies (NYSE:FET) EVP Sells $387,602.00 in Stock

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 4,300 shares of Forum Energy Technologies stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $90.14, for a total value of $387,602.00. Following the sale, the executive vice president directly owned 75,512 shares of the company’s stock, valued at approximately $6,806,651.68. This trade represents a 5.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Forum Energy Technologies Price Performance

FET opened at $88.76 on Friday. The stock has a 50-day moving average price of $82.45 and a 200-day moving average price of $62.54. Forum Energy Technologies, Inc. has a 12-month low of $26.00 and a 12-month high of $91.99. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $998.55 million, a P/E ratio of -591.69, a PEG ratio of 2.83 and a beta of 0.68.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.22 by $0.29. The firm had revenue of $236.81 million for the quarter, compared to analyst estimates of $233.35 million. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%. Equities analysts predict that Forum Energy Technologies, Inc. will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FET has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Thursday, October 15th. Zacks Research lowered shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Wall Street Zen upgraded shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 2nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Forum Energy Technologies currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Forum Energy Technologies during the 2nd quarter valued at about $47,765,000. Dimensional Fund Advisors LP grew its position in Forum Energy Technologies by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 626,938 shares of the oil and gas company’s stock worth $36,775,000 after acquiring an additional 33,802 shares during the last quarter. De Lisle Partners LLP bought a new position in Forum Energy Technologies during the 2nd quarter worth approximately $11,389,000. Arrowstreet Capital Limited Partnership increased its stake in Forum Energy Technologies by 66.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 152,403 shares of the oil and gas company’s stock worth $8,940,000 after purchasing an additional 60,711 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Forum Energy Technologies by 23.7% in the 1st quarter. Renaissance Technologies LLC now owns 140,475 shares of the oil and gas company’s stock worth $8,240,000 after purchasing an additional 26,875 shares during the period. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc (NYSE:FET) is a global manufacturer of oilfield and industrial equipment serving the exploration, development and production segments of the energy industry. The company designs and supplies products used in drilling, well completion, production and subsea operations.

Forum’s product offerings include drilling and downhole tools, drilling motors, wireline and well-intervention equipment, pressure-control systems, hydraulic-fracturing and stimulation equipment, artificial-lift products, and subsea remotely operated vehicle systems.