Forum Energy Technologies (NYSE:FET) SVP Michael Dewayne Danford Sells 1,500 Shares

Forum Energy Technologies, Inc. (NYSE:FET) SVP Michael Dewayne Danford sold 1,500 shares of Forum Energy Technologies stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $78.91, for a total value of $118,365.00. Following the sale, the senior vice president owned 52,639 shares in the company, valued at $4,153,743.49. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was sold at an average price of $55.49, for a total value of $166,470.00.

Forum Energy Technologies Stock Performance

Shares of Forum Energy Technologies stock opened at $83.08 on Wednesday. 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 firm has a market capitalization of $934.64 million, a P/E ratio of -553.82, a P/E/G ratio of 3.20 and a beta of 0.53. The business has a fifty day simple moving average of $55.13 and a two-hundred day simple moving average of $55.37. Forum Energy Technologies, Inc. has a 12 month low of $21.95 and a 12 month high of $83.18.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data 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. The business had revenue of $226.22 million for the quarter, compared to analyst estimates of $212.35 million. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. On average, equities analysts forecast that Forum Energy Technologies, Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forum Energy Technologies

Several institutional investors have recently modified their holdings of FET. Meeder Asset Management Inc. bought a new position in Forum Energy Technologies during the 4th quarter valued at about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Forum Energy Technologies during the fourth quarter valued at approximately $37,000. Tower Research Capital LLC TRC lifted its position in Forum Energy Technologies by 558.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 1,771 shares during the period. Kemnay Advisory Services Inc. bought a new position in Forum Energy Technologies during the fourth quarter valued at approximately $75,000. Finally, Osaic Holdings Inc. purchased a new stake in Forum Energy Technologies in the second quarter worth approximately $78,000. 65.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. 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 Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. Finally, Zacks Research raised Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Forum Energy Technologies

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.