Forum Energy Technologies (NYSE:FET) SVP Michael Dewayne Danford Sells 1,500 Shares

Forum Energy Technologies, Inc. (NYSE:FET) SVP Michael Dewayne Danford sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $78.91, for a total transaction 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 available through the SEC website.

Michael Dewayne Danford also recently made the following trade(s):

• On Wednesday, May 13th, Michael Dewayne Danford sold 3,000 shares of Forum Energy Technologies stock. The shares were sold at an average price of $55.49, for a total transaction of $166,470.00.

Forum Energy Technologies Stock Up 5.9%

Shares of NYSE:FET traded up $4.66 during midday trading on Tuesday, hitting $83.08. 228,996 shares of the company’s stock traded hands, compared to its average volume of 202,305. The firm’s fifty day moving average price is $54.52 and its two-hundred day moving average price is $55.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 2.19. Forum Energy Technologies, Inc. has a twelve month low of $21.95 and a twelve month high of $83.18. The company has a market cap of $934.64 million, a PE ratio of -553.82, a P/E/G ratio of 3.03 and a beta of 0.53.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. Zacks Research raised Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Forum Energy Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Forum Energy Technologies in the 2nd quarter worth $47,765,000. Keyframe Capital Partners L.P. grew its stake in shares of Forum Energy Technologies by 8.5% during the second quarter. Keyframe Capital Partners L.P. now owns 848,519 shares of the oil and gas company’s stock valued at $16,521,000 after acquiring an additional 66,322 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Forum Energy Technologies by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 626,938 shares of the oil and gas company’s stock worth $36,775,000 after acquiring an additional 33,802 shares during the last quarter. IES Holdings Inc. acquired a new position in shares of Forum Energy Technologies in the fourth quarter worth about $20,107,000. Finally, JPMorgan Chase & Co. boosted its holdings in Forum Energy Technologies by 62.3% in the third quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company’s stock valued at $7,006,000 after purchasing an additional 100,720 shares during the last quarter. Hedge funds and other institutional investors own 65.60% 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.