Icon Wealth Advisors LLC Sells 33,384 Shares of Forum Energy Technologies, Inc. $FET

Icon Wealth Advisors LLC reduced its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 36.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,374 shares of the oil and gas company’s stock after selling 33,384 shares during the quarter. Icon Wealth Advisors LLC owned 0.51% of Forum Energy Technologies worth $2,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Keyframe Capital Partners L.P. lifted its position in shares of Forum Energy Technologies by 8.5% during the 2nd quarter. Keyframe Capital Partners L.P. now owns 848,519 shares of the oil and gas company’s stock worth $16,521,000 after buying an additional 66,322 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Forum Energy Technologies by 3.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 591,741 shares of the oil and gas company’s stock worth $15,806,000 after buying an additional 21,033 shares during the last quarter. IES Holdings Inc. bought a new stake in shares of Forum Energy Technologies during the 4th quarter worth $20,107,000. JPMorgan Chase & Co. lifted its position in shares of Forum Energy Technologies by 62.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company’s stock worth $7,006,000 after buying an additional 100,720 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Forum Energy Technologies by 5.3% during the 4th quarter. State Street Corp now owns 243,682 shares of the oil and gas company’s stock worth $9,004,000 after buying an additional 12,257 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on FET shares. Wall Street Zen upgraded Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Tuesday, April 21st. Finally, Zacks Research downgraded Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Forum Energy Technologies Price Performance

Forum Energy Technologies stock opened at $53.01 on Friday. The stock’s 50 day moving average is $56.85 and its 200 day moving average is $49.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.23 and a quick ratio of 1.09. The firm has a market cap of $599.00 million, a P/E ratio of -89.84, a P/E/G ratio of 3.06 and a beta of 0.53. Forum Energy Technologies, Inc. has a one year low of $18.12 and a one year high of $65.43.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The company had revenue of $208.70 million for the quarter, compared to analyst estimates of $201.30 million. Forum Energy Technologies had a positive return on equity of 4.15% and a negative net margin of 0.78%. As a group, research analysts expect that Forum Energy Technologies, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Forum Energy Technologies news, SVP Michael Dewayne Danford sold 3,000 shares of Forum Energy Technologies stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $55.49, for a total value of $166,470.00. Following the completion of the sale, the senior vice president directly owned 54,139 shares in the company, valued at approximately $3,004,173.11. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.70% of the company’s stock.

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.