Inspire Investing LLC Buys 7,816 Shares of Forum Energy Technologies, Inc. $FET

Inspire Investing LLC bought a new position in Forum Energy Technologies, Inc. (NYSE:FET) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 7,816 shares of the oil and gas company’s stock, valued at approximately $633,000. Inspire Investing LLC owned 0.07% of Forum Energy Technologies as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in FET. BlackRock Inc. purchased a new stake in Forum Energy Technologies during the second quarter valued at about $47,765,000. Dimensional Fund Advisors LP grew its stake in shares of Forum Energy Technologies by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 626,938 shares of the oil and gas company’s stock valued at $36,775,000 after buying an additional 33,802 shares during the last quarter. De Lisle Partners LLP purchased a new position in shares of Forum Energy Technologies in the second quarter worth about $11,389,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Forum Energy Technologies by 66.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 152,403 shares of the oil and gas company’s stock worth $8,940,000 after buying an additional 60,711 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Forum Energy Technologies by 23.7% in the first quarter. Renaissance Technologies LLC now owns 140,475 shares of the oil and gas company’s stock worth $8,240,000 after buying an additional 26,875 shares during the period. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John Ivascu sold 4,300 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $90.14, for a total value of $387,602.00. Following the completion of the sale, the executive vice president owned 75,512 shares of the company’s stock, valued at $6,806,651.68. This trade represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael Danford sold 1,500 shares of Forum Energy Technologies stock in a transaction on Monday, August 10th. The shares were sold at an average price of $78.91, for a total transaction of $118,365.00. Following the completion of the sale, the senior vice president owned 52,639 shares in the company, valued at approximately $4,153,743.49. This trade represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,500 shares of company stock valued at $1,328,273 in the last ninety days. 7.70% of the stock is currently owned by insiders.

Forum Energy Technologies Trading Down 4.5%

FET opened at $84.76 on Friday. Forum Energy Technologies, Inc. has a one year low of $26.00 and a one year high of $91.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 1.13. The business has a 50 day simple moving average of $82.59 and a two-hundred day simple moving average of $62.77. The firm has a market capitalization of $953.55 million, a price-to-earnings ratio of 33.37, a PEG ratio of 2.77 and a beta of 0.68.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.29. Forum Energy Technologies had a return on equity of 14.77% and a net margin of 3.46%. The firm had revenue of $236.81 million for the quarter, compared to analyst estimates of $233.35 million. Analysts predict that Forum Energy Technologies, Inc. will post 4.01 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FET. Zacks Research cut Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Thursday, October 15th. 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 investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Forum Energy Technologies presently has an average rating of “Reduce”.

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.