10,301 Shares in Forum Energy Technologies, Inc. $FET Bought by NYL Investors LLC

NYL Investors LLC acquired a new stake in Forum Energy Technologies, Inc. (NYSE:FET) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,301 shares of the oil and gas company’s stock, valued at approximately $517,408,000. Forum Energy Technologies makes up about 0.2% of NYL Investors LLC’s holdings, making the stock its 26th biggest holding. NYL Investors LLC owned approximately 0.09% of Forum Energy Technologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Forum Energy Technologies in the second quarter worth about $47,765,000. IES Holdings Inc. bought a new stake in shares of Forum Energy Technologies during the 4th quarter valued at approximately $20,107,000. De Lisle Partners LLP acquired a new position in Forum Energy Technologies during the 2nd quarter worth approximately $11,389,000. AQR Capital Management LLC increased its position in Forum Energy Technologies by 1,327.5% during the 4th quarter. AQR Capital Management LLC now owns 146,203 shares of the oil and gas company’s stock worth $5,402,000 after purchasing an additional 135,961 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in Forum Energy Technologies in the 1st quarter valued at approximately $7,682,000. Institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Trading Down 1.0%

NYSE FET opened at $77.82 on Friday. The firm has a market capitalization of $875.47 million, a PE ratio of -518.77, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53. The business’s 50-day moving average price is $59.89 and its two-hundred day moving average price is $57.41. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. Forum Energy Technologies, Inc. has a 12 month low of $23.61 and a 12 month high of $87.42.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.60. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%.The company had revenue of $226.22 million during the quarter, compared to the consensus estimate of $212.35 million. On average, analysts expect that Forum Energy Technologies, Inc. will post 3.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FET. Wall Street Zen upgraded shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. Zacks Research upgraded Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Forum Energy Technologies has an average rating of “Moderate Buy”.

Insider Activity at Forum Energy Technologies

In other news, SVP Michael Dewayne Danford sold 1,500 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $4,153,743.49. This trade represents a 2.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John C. Ivascu sold 5,000 shares of Forum Energy Technologies stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $70.63, for a total transaction of $353,150.00. Following the completion of the sale, the executive vice president owned 85,512 shares of the company’s stock, valued at $6,039,712.56. This represents a 5.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 11,500 shares of company stock worth $877,615. Insiders own 7.70% of the company’s stock.

About Forum Energy Technologies

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.