Key Points
- Forum Energy Technologies SVP Michael Dewayne Danford sold 1,500 shares at an average price of $78.91, worth $118,365. Following the transaction, he retained 52,639 shares valued at approximately $4.15 million.
- FET reported quarterly EPS of $1.16, exceeding analyst expectations of $0.56, while revenue of $226.22 million also surpassed estimates. Shares opened at $83.08, near their 12-month high of $83.18.
- Analyst sentiment is mixed but averages to a Moderate Buy, with some firms upgrading the stock to Strong Buy and another maintaining a Sell rating. Institutional investors own approximately 65.6% of the company.
Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) SVP Michael Dewayne Danford sold 1,500 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $78.91, for a total value of $118,365.00. Following the completion of the transaction, the senior vice president directly owned 52,639 shares in the company, valued at approximately $4,153,743.49. This represents a 2.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $55.49, for a total transaction of $166,470.00.
Forum Energy Technologies Price Performance
Shares of NYSE:FET opened at $83.08 on Wednesday. The firm's 50 day moving average price is $55.13 and its 200-day moving average price is $55.37. Forum Energy Technologies, Inc. has a twelve month low of $21.95 and a twelve month high of $83.18. The company has a quick ratio of 1.13, a current ratio of 2.19 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $934.64 million, a PE ratio of -553.82, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53.
Forum Energy Technologies (NYSE:FET - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.60. The company had revenue of $226.22 million for the quarter, compared to the consensus estimate of $212.35 million. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. Equities research analysts expect that Forum Energy Technologies, Inc. will post 3.06 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on FET shares. 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Forum Energy Technologies in a research report on Friday, July 17th. Finally, Wall Street Zen raised Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".
Get Our Latest Research Report on FET
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in shares of Forum Energy Technologies during the fourth quarter valued at about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Forum Energy Technologies in the fourth quarter worth about $37,000. Tower Research Capital LLC TRC boosted its stake 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 buying an additional 1,771 shares during the last quarter. 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 position in Forum Energy Technologies during the 2nd quarter valued at approximately $78,000. Institutional investors own 65.60% of the company's stock.
About Forum Energy Technologies
(
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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