Forum Energy Technologies, Inc. $FET Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC raised its holdings in Forum Energy Technologies, Inc. (NYSE:FET) by 795.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,161 shares of the oil and gas company’s stock after purchasing an additional 33,901 shares during the quarter. Squarepoint Ops LLC’s holdings in Forum Energy Technologies were worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in shares of Forum Energy Technologies during the 2nd quarter worth approximately $96,000. SG Americas Securities LLC purchased a new stake in shares of Forum Energy Technologies in the first quarter valued at approximately $126,000. Meeder Asset Management Inc. purchased a new stake in shares of Forum Energy Technologies in the second quarter valued at approximately $123,000. First Trust Advisors LP acquired a new position in Forum Energy Technologies during the first quarter worth $282,000. Finally, Canada Pension Plan Investment Board acquired a new position in Forum Energy Technologies during the second quarter worth $311,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Insider Buying and Selling at Forum Energy Technologies

In other Forum Energy Technologies news, SVP Michael Danford sold 1,500 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $78.91, for a total value of $118,365.00. Following the sale, the senior vice president owned 52,639 shares of the company’s stock, valued at approximately $4,153,743.49. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John C. Ivascu sold 5,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $70.63, for a total value of $353,150.00. Following the completion of the sale, the executive vice president directly owned 85,512 shares in the company, valued at $6,039,712.56. This trade represents a 5.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 11,500 shares of company stock valued at $877,615. 7.70% of the stock is currently owned by insiders.

Forum Energy Technologies Trading Down 2.9%

Shares of Forum Energy Technologies stock opened at $80.63 on Tuesday. The company has a 50-day moving average of $69.65 and a two-hundred day moving average of $60.79. Forum Energy Technologies, Inc. has a 12-month low of $25.07 and a 12-month high of $87.42. 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 stock has a market cap of $907.09 million, a PE ratio of -537.50, a price-to-earnings-growth ratio of 2.59 and a beta of 0.59.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.56 by $0.60. The business 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%. On average, research analysts anticipate that Forum Energy Technologies, Inc. will post 4.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FET shares. Zacks Research upgraded Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. One 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, the company presently has an average rating of “Moderate Buy”.

About Forum Energy Technologies

Forum Energy Technologies, Inc is a Houston-based oilfield services and equipment company that designs, manufactures and distributes products used in the exploration, development, production and transportation of oil and natural gas. Its offerings support drilling, well construction, completion, production and intervention activities, as well as subsea operations.

The company’s product portfolio includes drilling and completion equipment, downhole tools, artificial-lift and production products, pressure-control equipment, subsea remotely operated vehicle systems, and equipment used for pipeline and infrastructure inspection.