Forum Energy Technologies (NYSE:FET) SVP Michael Dewayne Danford Sells 3,000 Shares

Forum Energy Technologies, Inc. (NYSE:FET) SVP Michael Dewayne Danford sold 3,000 shares of Forum Energy Technologies stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $55.49, for a total transaction of $166,470.00. Following the sale, the senior vice president owned 54,139 shares in the company, valued at approximately $3,004,173.11. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Forum Energy Technologies Price Performance

Forum Energy Technologies stock traded up $0.03 during midday trading on Thursday, hitting $55.93. The company’s stock had a trading volume of 15,414 shares, compared to its average volume of 212,437. The company has a quick ratio of 1.09, a current ratio of 2.23 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $58.56 and its 200-day moving average price is $45.96. Forum Energy Technologies, Inc. has a 12 month low of $14.17 and a 12 month high of $65.43. The company has a market capitalization of $631.96 million, a PE ratio of -94.78, a price-to-earnings-growth ratio of 3.37 and a beta of 0.60.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.44 by $0.03. The firm had revenue of $208.70 million for the quarter, compared to analysts’ expectations of $201.30 million. Forum Energy Technologies had a negative net margin of 0.78% and a positive return on equity of 4.15%. Analysts anticipate that Forum Energy Technologies, Inc. will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. JB Capital Partners LP raised its stake in shares of Forum Energy Technologies by 68.2% in the third quarter. JB Capital Partners LP now owns 120,800 shares of the oil and gas company’s stock valued at $3,227,000 after purchasing an additional 49,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Forum Energy Technologies by 62.3% in the third quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company’s stock worth $7,006,000 after purchasing an additional 100,720 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Forum Energy Technologies in the 4th quarter valued at $1,196,000. Strs Ohio raised its stake in Forum Energy Technologies by 468.4% during the 3rd quarter. Strs Ohio now owns 21,600 shares of the oil and gas company’s stock worth $577,000 after buying an additional 17,800 shares during the period. Finally, De Lisle Partners LLP grew its stake in Forum Energy Technologies by 2.4% in the fourth quarter. De Lisle Partners LLP now owns 216,389 shares of the oil and gas company’s stock valued at $8,001,000 after acquiring an additional 5,000 shares during the period. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Tuesday, April 21st. Zacks Research raised Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

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.