Key Points
- Forum Energy Technologies SVP Michael Dewayne Danford sold 3,000 shares on May 13 at an average price of $55.49, totaling $166,470. After the sale, he still directly owned 54,139 shares worth about $3.0 million.
- The transaction reduced Danford’s position by 5.25% and was disclosed in an SEC filing.
- Forum Energy Technologies recently reported better-than-expected quarterly results, with EPS of $0.47 versus estimates of $0.44 and revenue of $208.7 million versus expectations of $201.3 million.
Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) SVP Michael Dewayne Danford sold 3,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $55.49, for a total transaction of $166,470.00. Following the sale, the senior vice president directly owned 54,139 shares of the company's stock, valued at $3,004,173.11. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Forum Energy Technologies Price Performance
Forum Energy Technologies stock opened at $55.98 on Friday. Forum Energy Technologies, Inc. has a 52-week low of $14.17 and a 52-week high of $65.43. The firm has a market capitalization of $632.62 million, a price-to-earnings ratio of -94.89, a PEG ratio of 3.38 and a beta of 0.60. The company has a fifty day simple moving average of $58.51 and a 200-day simple moving average of $46.14. The company has a quick ratio of 1.09, a current ratio of 2.23 and a debt-to-equity ratio of 0.54.
Forum Energy Technologies (NYSE:FET - Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.03. Forum Energy Technologies had a negative net margin of 0.78% and a positive return on equity of 4.15%. The business had revenue of $208.70 million during the quarter, compared to analyst estimates of $201.30 million. On average, equities analysts anticipate that Forum Energy Technologies, Inc. will post 2.07 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on FET. Zacks Research raised shares of Forum Energy Technologies from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Forum Energy Technologies in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".
View Our Latest Stock Analysis on FET
Institutional Investors Weigh In On Forum Energy Technologies
Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Forum Energy Technologies in the fourth quarter valued at about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth about $37,000. New York State Teachers Retirement System acquired a new stake in shares of Forum Energy Technologies during the third quarter worth about $27,000. Federated Hermes Inc. lifted its position in shares of Forum Energy Technologies by 166.7% during the third quarter. Federated Hermes Inc. now owns 1,616 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 65.60% of the company's stock.
Forum Energy Technologies Company Profile
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Get Free Report)
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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