Forum Energy Technologies (NYSE:FET) EVP John Ivascu Sells 5,000 Shares of Stock

by · The Markets Daily

Forum Energy Technologies, Inc. (NYSE:FET – Get Free Report) EVP John Ivascu sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $81.22, for a total value of $406,100.00. Following the completion of the transaction, the executive vice president owned 80,512 shares in the company, valued at approximately $6,539,184.64. This trade represents a 5.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Forum Energy Technologies Stock Up 0.2%

NYSE FET traded up $0.13 during mid-day trading on Wednesday, reaching $83.20. 178,166 shares of the company’s stock traded hands, compared to its average volume of 202,148. Forum Energy Technologies, Inc. has a 1-year low of $22.17 and a 1-year high of $84.75. The company has a fifty day simple moving average of $55.13 and a 200-day simple moving average of $55.37. 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 company has a market cap of $936 million, a price-to-earnings ratio of -554.63, a P/E/G ratio of 3.20 and a beta of 0.53.

Forum Energy Technologies (NYSE:FET – Get Free Report) last announced 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 company 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%. As a group, equities research analysts expect that Forum Energy Technologies, Inc. will post 3.06 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Forum Energy Technologies presently has an average rating of “Moderate Buy”.

View Our Latest Stock Report on FET

Institutional Investors Weigh In On Forum Energy Technologies

A number of institutional investors have recently made changes to their positions in FET. BlackRock Inc. acquired a new stake in shares of Forum Energy Technologies during the 2nd quarter valued at approximately $47,765,000. IES Holdings Inc. acquired a new position in Forum Energy Technologies in the fourth quarter worth $20,107,000. De Lisle Partners LLP bought a new stake in Forum Energy Technologies during the second quarter valued at $11,389,000. AQR Capital Management LLC increased its stake in Forum Energy Technologies by 1,327.5% during the fourth quarter. AQR Capital Management LLC now owns 146,203 shares of the oil and gas company’s stock valued at $5,402,000 after purchasing an additional 135,961 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Forum Energy Technologies during the first quarter worth $7,682,000. 65.60% of the stock is currently owned by institutional investors.

About Forum Energy Technologies

(Get Free Report)

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.

Featured Articles