Public Employees Retirement System of Ohio Takes Position in Forum Energy Technologies, Inc. $FET

Public Employees Retirement System of Ohio acquired a new position in Forum Energy Technologies, Inc. (NYSE:FET) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,840 shares of the oil and gas company’s stock, valued at approximately $997,000.

Other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in shares of 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 valued at $8,940,000 after buying an additional 60,711 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Forum Energy Technologies in the second quarter worth approximately $1,444,000. JB Capital Partners LP acquired a new stake in Forum Energy Technologies during the 2nd quarter valued at approximately $6,067,784. Walleye Capital LLC bought a new position in Forum Energy Technologies during the 1st quarter worth approximately $1,632,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Forum Energy Technologies in the 1st quarter worth approximately $7,682,000. 65.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

FET has been the subject of several recent analyst reports. Zacks Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Friday, July 17th. Finally, Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Forum Energy Technologies Stock Down 0.5%

Shares of NYSE:FET opened at $79.92 on Wednesday. The firm has a market cap of $899.12 million, a P/E ratio of -532.78, a PEG ratio of 2.50 and a beta of 0.59. Forum Energy Technologies, Inc. has a 52-week low of $25.07 and a 52-week high of $87.42. The business’s 50 day simple moving average is $66.94 and its two-hundred day simple moving average is $60.13. 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 (NYSE:FET) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.56 by $0.60. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. The company had revenue of $226.22 million during the quarter, compared to the consensus estimate of $212.35 million. As a group, research analysts forecast that Forum Energy Technologies, Inc. will post 4.01 EPS for the current fiscal year.

Insider Activity at Forum Energy Technologies

In other news, SVP Michael Danford sold 1,500 shares of Forum Energy Technologies stock in a transaction on Monday, August 10th. The shares were sold at an average price of $78.91, for a total transaction of $118,365.00. Following the completion of the sale, the senior vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John C. Ivascu sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $81.22, for a total value of $406,100.00. Following the transaction, the executive vice president directly owned 80,512 shares in the company, valued at approximately $6,539,184.64. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,500 shares of company stock worth $877,615. Insiders own 7.70% 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.