NYL Investors LLC Takes $517.41 Million Position in Forum Energy Technologies, Inc. $FET

NYL Investors LLC bought a new stake in Forum Energy Technologies, Inc. (NYSE:FET) in the second quarter, Holdings Channel.com reports. The institutional investor bought 10,301 shares of the oil and gas company’s stock, valued at approximately $517,408,000. Forum Energy Technologies makes up approximately 0.2% of NYL Investors LLC’s portfolio, making the stock its 26th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Forum Energy Technologies in the second quarter worth approximately $47,765,000. IES Holdings Inc. acquired a new stake in Forum Energy Technologies in the fourth quarter valued at approximately $20,107,000. De Lisle Partners LLP bought a new stake in shares of Forum Energy Technologies during the second quarter valued at approximately $11,389,000. AQR Capital Management LLC increased its holdings in shares of Forum Energy Technologies by 1,327.5% during the fourth quarter. AQR Capital Management LLC now owns 146,203 shares of the oil and gas company’s stock valued at $5,402,000 after acquiring an additional 135,961 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Forum Energy Technologies during the first quarter worth approximately $7,682,000. 65.60% of the stock is owned by institutional investors and hedge funds.

Forum Energy Technologies Stock Performance

Shares of FET opened at $77.82 on Friday. The stock has a 50 day moving average of $59.89 and a 200 day moving average of $57.41. The company has a market capitalization of $875.47 million, a price-to-earnings ratio of -518.77, a PEG ratio of 2.45 and a beta of 0.53. Forum Energy Technologies, Inc. has a 12 month low of $23.61 and a 12 month high of $87.42. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49.

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

Analyst Ratings Changes

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

Insider Transactions at Forum Energy Technologies

In other Forum Energy Technologies news, EVP John C. Ivascu sold 5,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $70.63, for a total value of $353,150.00. Following the transaction, the executive vice president directly owned 85,512 shares in the company, valued at $6,039,712.56. The trade was a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Dewayne Danford sold 1,500 shares of the firm’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. The trade was a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,500 shares of company stock worth $877,615 over the last three months. 7.70% of the stock is owned by insiders.

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.