Pacer Advisors Inc. Takes Position in Forum Energy Technologies, Inc. $FET

Pacer Advisors Inc. acquired a new stake in Forum Energy Technologies, Inc. (NYSE:FET) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 46,476 shares of the oil and gas company’s stock, valued at approximately $2,726,000.

A number of other institutional investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in Forum Energy Technologies during the 4th quarter worth approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Forum Energy Technologies in the fourth quarter worth $37,000. Tower Research Capital LLC TRC lifted its stake in shares of Forum Energy Technologies by 558.7% during 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 buying an additional 1,771 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth $75,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of Forum Energy Technologies during the second quarter valued at $78,000. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FET has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Friday, July 17th. Zacks Research raised Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded 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 assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Insider Buying and Selling at Forum Energy Technologies

In related news, SVP Michael Dewayne Danford sold 3,000 shares of the business’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 directly owned 54,139 shares in the company, valued at $3,004,173.11. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $353,150.00. Following the completion of the sale, the executive vice president directly owned 85,512 shares in the company, valued at approximately $6,039,712.56. The trade was a 5.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.70% of the company’s stock.

Forum Energy Technologies Stock Performance

FET opened at $74.22 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.09 and a debt-to-equity ratio of 0.49. Forum Energy Technologies, Inc. has a 12-month low of $19.51 and a 12-month high of $77.51. The firm has a 50 day moving average of $53.96 and a two-hundred day moving average of $54.73. The firm has a market capitalization of $834.92 million, a PE ratio of -494.73, a P/E/G ratio of 3.07 and a beta of 0.53.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.56 by $0.60. The business had revenue of $226.22 million for the quarter, compared to the consensus estimate of $212.35 million. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. On average, analysts anticipate that Forum Energy Technologies, Inc. will post 3.06 EPS for the current year.

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.