Insider Selling: Forum Energy Technologies (NYSE:FET) SVP Sells $118,365.00 in Stock

Forum Energy Technologies, Inc. (NYSE:FET) SVP Michael Dewayne Danford sold 1,500 shares of the company’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 value of $118,365.00. Following the completion of the sale, the senior vice president owned 52,639 shares in the company, valued at $4,153,743.49. The trade was a 2.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 value of $166,470.00.

Forum Energy Technologies Stock Down 0.5%

Shares of NYSE:FET opened at $82.47 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $56.33 and a two-hundred day simple moving average of $55.92. Forum Energy Technologies, Inc. has a 12-month low of $22.17 and a 12-month high of $85.00. The stock has a market capitalization of $927.75 million, a price-to-earnings ratio of -549.74, a PEG ratio of 3.38 and a beta of 0.53.

Forum Energy Technologies (NYSE:FET) last released its earnings results on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $212.35 million. On average, research analysts anticipate that Forum Energy Technologies, Inc. will post 3.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Forum Energy Technologies

Several large investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its stake in Forum Energy Technologies by 8.8% during the 1st quarter. Empowered Funds LLC now owns 13,908 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 1,127 shares during the period. Jane Street Group LLC grew its stake in shares of Forum Energy Technologies by 53.6% in the first quarter. Jane Street Group LLC now owns 19,970 shares of the oil and gas company’s stock worth $402,000 after acquiring an additional 6,971 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Forum Energy Technologies by 204.3% in the second quarter. JPMorgan Chase & Co. now owns 161,596 shares of the oil and gas company’s stock worth $3,146,000 after acquiring an additional 108,490 shares during the period. Rhumbline Advisers raised its holdings in shares of Forum Energy Technologies by 9.4% during the second quarter. Rhumbline Advisers now owns 20,686 shares of the oil and gas company’s stock valued at $403,000 after purchasing an additional 1,781 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Forum Energy Technologies during the second quarter valued at approximately $188,000. 65.60% of the stock is currently owned by institutional investors.

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.