Forum Energy Technologies, Inc. $FET Shares Sold by State of Wyoming

State of Wyoming lessened its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 82.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,740 shares of the oil and gas company’s stock after selling 8,365 shares during the quarter. State of Wyoming’s holdings in Forum Energy Technologies were worth $141,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JB Capital Partners LP purchased a new position in Forum Energy Technologies in the 2nd quarter valued at $6,067,784. Arrowstreet Capital Limited Partnership raised its position in Forum Energy Technologies by 66.2% during 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 buying an additional 60,711 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Forum Energy Technologies during the 2nd quarter worth $1,811,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Forum Energy Technologies in the 2nd quarter worth $997,000. Finally, Deutsche Bank AG acquired a new stake in shares of Forum Energy Technologies in the 2nd quarter worth $629,000. 65.60% of the stock is owned by institutional investors and hedge funds.

Forum Energy Technologies Trading Up 2.7%

Shares of FET stock opened at $71.61 on Tuesday. The business’s fifty day moving average price is $82.00 and its 200 day moving average price is $63.72. Forum Energy Technologies, Inc. has a 1-year low of $28.50 and a 1-year high of $91.99. The firm has a market capitalization of $821.31 million, a PE ratio of 28.19, a P/E/G ratio of 2.14 and a beta of 0.71. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.04 and a quick ratio of 1.13.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.29. Forum Energy Technologies had a return on equity of 14.38% and a net margin of 3.46%. The firm had revenue of $236.81 million during the quarter, compared to analysts’ expectations of $233.35 million. As a group, sell-side analysts forecast that Forum Energy Technologies, Inc. will post 4.30 EPS for the current fiscal year.

Insider Buying and Selling at Forum Energy Technologies

In other news, EVP John Ivascu sold 4,300 shares of the stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $90.14, for a total value of $387,602.00. Following the completion of the transaction, the executive vice president owned 75,512 shares in the company, valued at $6,806,651.68. This trade represents a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FET shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Thursday, October 15th. Wall Street Zen raised shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 2nd. Finally, Zacks Research downgraded shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Forum Energy Technologies presently has an average rating of “Reduce”.

About Forum Energy Technologies

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.