Forum Energy Technologies (NYSE:FET) EVP John Ivascu Sells 700 Shares of Company Stock

Forum Energy Technologies, Inc. (NYSE:FET) EVP John Ivascu sold 700 shares of Forum Energy Technologies stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $90.08, for a total transaction of $63,056.00. Following the completion of the transaction, the executive vice president owned 79,812 shares of the company’s stock, valued at $7,189,464.96. The trade was a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Forum Energy Technologies Stock Performance

Shares of FET stock traded up $1.28 during trading on Tuesday, reaching $90.15. 147,827 shares of the company’s stock traded hands. The firm’s 50-day moving average is $82.14 and its 200 day moving average is $62.04. Forum Energy Technologies, Inc. has a 1 year low of $26.00 and a 1 year high of $91.41.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.60. The business had revenue of $226.22 million during the quarter, compared to analysts’ expectations of $212.35 million. On average, sell-side analysts anticipate that Forum Energy Technologies, Inc. will post 4.01 earnings per share for the current year.

Hedge Funds Weigh In On Forum Energy Technologies

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Forum Energy Technologies during the 2nd quarter worth approximately $47,765,000. Dimensional Fund Advisors LP lifted its stake in Forum Energy Technologies by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 626,938 shares of the oil and gas company’s stock worth $36,775,000 after purchasing an additional 33,802 shares in the last quarter. De Lisle Partners LLP purchased a new stake in Forum Energy Technologies in the 2nd quarter worth approximately $11,389,000. Arrowstreet Capital Limited Partnership lifted 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Forum Energy Technologies by 23.7% in the 1st quarter. Renaissance Technologies LLC now owns 140,475 shares of the oil and gas company’s stock valued at $8,240,000 after purchasing an additional 26,875 shares during the period. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Wall Street Analyst Weigh In

FET has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Thursday, October 15th. Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 2nd. Finally, Zacks Research cut Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

About Forum Energy Technologies

Forum Energy Technologies, Inc (NYSE:FET) is a global manufacturer of oilfield and industrial equipment serving the exploration, development and production segments of the energy industry. The company designs and supplies products used in drilling, well completion, production and subsea operations.

Forum’s product offerings include drilling and downhole tools, drilling motors, wireline and well-intervention equipment, pressure-control systems, hydraulic-fracturing and stimulation equipment, artificial-lift products, and subsea remotely operated vehicle systems.