Forum Energy Technologies, Inc. $FET Stock Sold by State of Wyoming

State of Wyoming reduced its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 82.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,740 shares of the oil and gas company’s stock after selling 8,365 shares during the period. State of Wyoming’s holdings in Forum Energy Technologies were worth $141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in shares of Forum Energy Technologies in the third quarter valued at approximately $28,000. Integrated Wealth Concepts LLC purchased a new stake in Forum Energy Technologies in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in Forum Energy Technologies by 39.6% in the 3rd quarter. GAMMA Investing LLC now owns 666 shares of the oil and gas company’s stock valued at $54,000 after buying an additional 189 shares in the last quarter. IFP Advisors Inc grew its holdings in Forum Energy Technologies by 23.6% during the 2nd quarter. IFP Advisors Inc now owns 1,289 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 246 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Forum Energy Technologies during the 2nd quarter valued at $96,000. Institutional investors and hedge funds own 65.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FET. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Thursday, October 15th. Wall Street Zen raised 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 cut shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Forum Energy Technologies Stock Performance

NYSE FET opened at $71.61 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.04 and a quick ratio of 1.13. Forum Energy Technologies, Inc. has a 1-year low of $28.50 and a 1-year high of $91.99. The firm has a market capitalization of $821.31 million, a P/E ratio of 28.19, a P/E/G ratio of 2.14 and a beta of 0.71. The business’s 50-day simple moving average is $82.00 and its 200-day simple moving average is $63.72.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.22 by $0.29. Forum Energy Technologies had a net margin of 3.46% and a return on equity of 14.38%. The firm had revenue of $236.81 million for the quarter, compared to analyst estimates of $233.35 million. Equities analysts predict that Forum Energy Technologies, Inc. will post 4.30 EPS for the current year.

Insider Buying and Selling at Forum Energy Technologies

In other Forum Energy Technologies news, EVP John Ivascu sold 4,300 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $90.14, for a total value of $387,602.00. Following the transaction, the executive vice president owned 75,512 shares in the company, valued at $6,806,651.68. The trade was a 5.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 7.70% of the company’s stock.

Forum Energy Technologies Profile

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.