Insider Selling: Forum Energy Technologies (NYSE:FET) SVP Sells 3,000 Shares of Stock

Forum Energy Technologies, Inc. (NYSE:FET) SVP Michael Dewayne Danford sold 3,000 shares of the business’s 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Forum Energy Technologies Trading Up 0.0%

Shares of Forum Energy Technologies stock traded up $0.03 on Thursday, reaching $55.93. The company had a trading volume of 15,414 shares, compared to its average volume of 212,437. The firm’s 50 day moving average price is $58.56 and its two-hundred day moving average price is $45.96. The firm has a market cap of $631.96 million, a PE ratio of -94.78, a PEG ratio of 3.37 and a beta of 0.60. Forum Energy Technologies, Inc. has a 52-week low of $14.17 and a 52-week high of $65.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 2.23.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Forum Energy Technologies has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Forum Energy Technologies

A number of large investors have recently added to or reduced their stakes in FET. Meeder Asset Management Inc. purchased a new stake in shares of Forum Energy Technologies during the fourth quarter worth about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Forum Energy Technologies in the fourth quarter worth $37,000. New York State Teachers Retirement System acquired a new position in Forum Energy Technologies in the third quarter worth $27,000. Federated Hermes Inc. boosted its holdings in Forum Energy Technologies by 166.7% in the third quarter. Federated Hermes Inc. now owns 1,616 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 1,010 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in Forum Energy Technologies in the fourth quarter worth $75,000. 65.60% of the stock is owned by institutional investors and hedge funds.

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.