Janney Montgomery Scott LLC Buys Shares of 14,959 Forum Energy Technologies, Inc. $FET

Janney Montgomery Scott LLC bought a new position in shares of Forum Energy Technologies, Inc. (NYSE:FET) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,959 shares of the oil and gas company’s stock, valued at approximately $877,000. Janney Montgomery Scott LLC owned approximately 0.13% of Forum Energy Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in shares of Forum Energy Technologies in the 4th quarter valued at approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Forum Energy Technologies during the 4th quarter worth approximately $37,000. Tower Research Capital LLC TRC increased its position in Forum Energy Technologies by 558.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 1,771 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in Forum Energy Technologies in the 4th quarter valued at approximately $75,000. Finally, Osaic Holdings Inc. bought a new position in Forum Energy Technologies in the 2nd quarter valued at approximately $78,000. Institutional investors own 65.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on FET shares. Zacks Research lowered shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Insider Activity

In other news, SVP Michael Dewayne Danford sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $55.49, for a total transaction of $166,470.00. Following the completion of the transaction, the senior vice president owned 54,139 shares of the company’s stock, valued at approximately $3,004,173.11. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.

Forum Energy Technologies Stock Performance

Forum Energy Technologies stock opened at $50.50 on Tuesday. The business has a 50 day moving average of $52.46 and a 200-day moving average of $52.02. The company has a market capitalization of $570.67 million, a P/E ratio of -85.60, a P/E/G ratio of 2.87 and a beta of 0.54. Forum Energy Technologies, Inc. has a 1 year low of $18.12 and a 1 year high of $65.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.23 and a quick ratio of 1.09.

Forum Energy Technologies (NYSE:FET) last posted its 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. Forum Energy Technologies had a negative net margin of 0.78% and a positive return on equity of 4.15%. The business had revenue of $208.70 million for the quarter, compared to the consensus estimate of $201.30 million. On average, equities research analysts predict that Forum Energy Technologies, Inc. will post 2.16 earnings per share for the current year.

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.