JB Capital Partners LP Buys Shares of 120,800 Forum Energy Technologies, Inc. $FET

JB Capital Partners LP bought a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 120,800 shares of the oil and gas company’s stock, valued at approximately $6,067,784,000. Forum Energy Technologies comprises about 0.9% of JB Capital Partners LP’s holdings, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of FET. Meeder Asset Management Inc. bought a new stake in shares of Forum Energy Technologies during the 4th quarter worth approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Forum Energy Technologies in the 4th quarter valued at $37,000. Kemnay Advisory Services Inc. purchased a new stake in Forum Energy Technologies in the fourth quarter worth $75,000. Tower Research Capital LLC TRC increased its stake in Forum Energy Technologies by 558.7% in the second 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 during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Forum Energy Technologies during the first quarter worth $126,000. 65.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FET shares. Zacks Research raised shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a 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 report on Sunday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Forum Energy Technologies Trading Down 1.0%

NYSE FET opened at $77.82 on Friday. Forum Energy Technologies, Inc. has a 52 week low of $23.61 and a 52 week high of $87.42. The company has a 50 day moving average price of $59.89 and a 200 day moving average price of $57.41. The company has a quick ratio of 1.13, a current ratio of 2.19 and a debt-to-equity ratio of 0.49. The firm has a market cap of $875.16 million, a PE ratio of -518.77, a price-to-earnings-growth ratio of 2.49 and a beta of 0.53.

Forum Energy Technologies (NYSE:FET) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.60. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. The company had revenue of $226.22 million during the quarter, compared to the consensus estimate of $212.35 million. As a group, sell-side analysts forecast that Forum Energy Technologies, Inc. will post 3.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Michael Dewayne Danford sold 1,500 shares of the firm’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John C. Ivascu sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $81.22, for a total value of $406,100.00. Following the transaction, the executive vice president owned 80,512 shares in the company, valued at approximately $6,539,184.64. This trade represents a 5.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,500 shares of company stock valued at $877,615 in the last three months. 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.