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

Janney Montgomery Scott LLC purchased a new stake in Forum Energy Technologies, Inc. (NYSE:FET) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 14,959 shares of the oil and gas company’s stock, valued at approximately $877,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new position 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 bought a new stake in Forum Energy Technologies in the fourth quarter valued at approximately $37,000. Tower Research Capital LLC TRC boosted its holdings 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 valued at $41,000 after acquiring an additional 1,771 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Forum Energy Technologies during the 4th quarter valued at approximately $75,000. Finally, Osaic Holdings Inc. acquired a new stake in Forum Energy Technologies during the 2nd quarter valued at approximately $78,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Insider Activity

In related news, SVP Michael Dewayne Danford sold 3,000 shares of the 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 transaction, the senior vice president directly owned 54,139 shares of the company’s stock, valued at $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 can be accessed through the SEC website. 7.70% of the stock is owned by insiders.

Forum Energy Technologies Price Performance

Shares of FET opened at $50.50 on Tuesday. Forum Energy Technologies, Inc. has a 52-week low of $18.12 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. The business’s 50 day moving average price is $52.46 and its two-hundred day moving average price is $52.02. The firm has a market cap of $570.67 million, a PE ratio of -85.60, a price-to-earnings-growth ratio of 2.87 and a beta of 0.54.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The firm had revenue of $208.70 million for the quarter, compared to analysts’ expectations of $201.30 million. Forum Energy Technologies had a positive return on equity of 4.15% and a negative net margin of 0.78%. On average, equities analysts anticipate that Forum Energy Technologies, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FET. Zacks Research downgraded shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research note 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 report on Sunday, July 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Forum Energy Technologies currently has an average rating of “Reduce”.

Forum Energy Technologies 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.