Key Points
- Forum Energy EVP John Ivascu sold 4,392 shares at an average price of $60.01 for total proceeds of $263,563.92, trimming his stake by 5.11% to 81,599 shares (≈$4.90M), as disclosed in an SEC filing.
- Shares traded down about 2% to $57.74; the company reported Q4 EPS $0.41 (above the $0.36 estimate) on $202.2M revenue, but the stock still carries a negative PE and a MarketBeat consensus rating of "Reduce".
Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) EVP John Ivascu sold 4,392 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $60.01, for a total transaction of $263,563.92. Following the completion of the transaction, the executive vice president directly owned 81,599 shares in the company, valued at $4,896,755.99. This trade represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Forum Energy Technologies Stock Down 2.0%
Shares of NYSE:FET traded down $1.15 during midday trading on Thursday, hitting $57.74. 17,615 shares of the company's stock were exchanged, compared to its average volume of 248,205. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.17 and a quick ratio of 1.01. The stock has a 50 day moving average price of $46.16 and a 200-day moving average price of $35.05. The company has a market cap of $650.15 million, a PE ratio of -64.88, a price-to-earnings-growth ratio of 5.44 and a beta of 0.54. Forum Energy Technologies, Inc. has a 12 month low of $12.78 and a 12 month high of $63.58.
Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.05. The business had revenue of $202.20 million for the quarter, compared to analysts' expectations of $190.50 million. Forum Energy Technologies had a negative net margin of 1.22% and a positive return on equity of 2.40%.
Institutional Investors Weigh In On Forum Energy Technologies
Several large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new stake in shares of Forum Energy Technologies during the 4th quarter worth $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Forum Energy Technologies during the fourth quarter worth about $37,000. New York State Teachers Retirement System bought a new stake in Forum Energy Technologies in the third quarter worth about $27,000. Federated Hermes Inc. boosted its stake in Forum Energy Technologies by 166.7% in the third quarter. Federated Hermes Inc. now owns 1,616 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Forum Energy Technologies during the 4th quarter valued at approximately $75,000. 65.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Zacks Research downgraded Forum Energy Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Forum Energy Technologies in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Forum Energy Technologies from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce".
Get Our Latest Stock Report on Forum Energy Technologies
Forum Energy Technologies Company Profile
(
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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.
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