NYL Investors LLC Acquires Shares of 10,301 Forum Energy Technologies, Inc. $FET

NYL Investors LLC bought a new stake in Forum Energy Technologies, Inc. (NYSE:FET) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,301 shares of the oil and gas company’s stock, valued at approximately $517,408. Forum Energy Technologies makes up 0.0% of NYL Investors LLC’s holdings, making the stock its 26th biggest position. NYL Investors LLC owned about 0.09% of Forum Energy Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its stake in Forum Energy Technologies by 66.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 152,403 shares of the oil and gas company’s stock worth $8,940,000 after purchasing an additional 60,711 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Forum Energy Technologies in the second quarter worth $1,444,000. Walleye Capital LLC purchased a new stake in Forum Energy Technologies during the 1st quarter worth approximately $1,632,000. Independent Financial Group LLC purchased a new position in Forum Energy Technologies in the 1st quarter valued at $1,746,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Forum Energy Technologies during the 1st quarter worth approximately $7,682,000. 65.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Forum Energy Technologies

In other news, EVP John C. Ivascu sold 5,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $70.63, for a total transaction of $353,150.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Dewayne Danford sold 1,500 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $78.91, for a total value 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. The trade was a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,500 shares of company stock worth $877,615. Company insiders own 7.70% of the company’s stock.

Forum Energy Technologies Stock Performance

FET traded up $2.12 during trading on Friday, reaching $81.90. 89,670 shares of the company’s stock were exchanged, compared to its average volume of 199,322. The stock has a market capitalization of $921.05 million, a P/E ratio of -545.96, a price-to-earnings-growth ratio of 2.36 and a beta of 0.53. The company’s fifty day simple moving average is $61.99 and its 200-day simple moving average is $58.35. Forum Energy Technologies, Inc. has a 1 year low of $25.07 and a 1 year high of $87.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 1.13.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $226.22 million for the quarter, compared to analyst estimates of $212.35 million. As a group, research analysts predict that Forum Energy Technologies, Inc. will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Friday, July 17th. Zacks Research raised Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. 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 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, the stock has an average rating of “Moderate Buy”.

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.