Key Points
- EVP John Ivascu sold 5,000 FET shares at an average price of $81.22, generating $406,100. Following the transaction, he retained 80,512 shares; the sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Forum Energy Technologies reported quarterly EPS of $1.16, beating analysts’ $0.56 estimate, while revenue of $226.22 million also exceeded expectations.
- FET shares opened at $83.20, near their 52-week high of $84.75. Analyst sentiment is mixed but averages to a “Moderate Buy”, and institutional investors own 65.6% of the stock.
Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) EVP John Ivascu sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $81.22, for a total transaction of $406,100.00. Following the sale, the executive vice president directly owned 80,512 shares of the company's stock, valued at approximately $6,539,184.64. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Forum Energy Technologies Price Performance
Shares of NYSE FET opened at $83.20 on Thursday. Forum Energy Technologies, Inc. has a fifty-two week low of $22.17 and a fifty-two week high of $84.75. The stock has a market cap of $935.67 million, a price-to-earnings ratio of -554.63, a PEG ratio of 3.39 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 2.19. The firm's 50-day simple moving average is $55.75 and its 200 day simple moving average is $55.65.
Forum Energy Technologies (NYSE:FET - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.60. The business had revenue of $226.22 million during the quarter, compared to the consensus estimate of $212.35 million. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%. As a group, research analysts anticipate that Forum Energy Technologies, Inc. will post 3.06 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
FET has been the topic of several analyst reports. Zacks Research raised Forum Energy Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".
View Our Latest Stock Report on Forum Energy Technologies
Institutional Investors Weigh In On Forum Energy Technologies
A number of institutional investors have recently added to or reduced their stakes in FET. Russell Investments Group Ltd. lifted its position in shares of Forum Energy Technologies by 7.0% during the 4th quarter. Russell Investments Group Ltd. now owns 9,442 shares of the oil and gas company's stock worth $349,000 after buying an additional 618 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Forum Energy Technologies by 5.8% in the third quarter. Victory Capital Management Inc. now owns 14,402 shares of the oil and gas company's stock valued at $385,000 after acquiring an additional 793 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Forum Energy Technologies during the fourth quarter valued at approximately $35,000. Raymond James Financial Inc. increased its position in shares of Forum Energy Technologies by 10.1% during the third quarter. Raymond James Financial Inc. now owns 10,604 shares of the oil and gas company's stock valued at $283,000 after acquiring an additional 971 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Forum Energy Technologies during the fourth quarter worth $37,000. 65.60% of the stock is owned by institutional investors.
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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