Quantbot Technologies LP purchased a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,059 shares of the oil and gas company’s stock, valued at approximately $355,000. Quantbot Technologies LP owned 0.06% of Forum Energy Technologies at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of FET. Meeder Asset Management Inc. bought a new stake in shares of Forum Energy Technologies in the 4th quarter worth approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Forum Energy Technologies during the fourth quarter valued at approximately $37,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 acquiring an additional 1,771 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of 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 $78,000. Institutional investors own 65.60% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. 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. Wall Street Zen raised shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. 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 has a consensus rating of “Moderate Buy”.
Insider Transactions at Forum Energy Technologies
In other Forum Energy Technologies news, SVP Michael Dewayne Danford sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $78.91, for a total transaction of $118,365.00. Following the completion of the transaction, the senior vice president owned 52,639 shares of the company’s stock, valued at approximately $4,153,743.49. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John C. Ivascu sold 5,000 shares of Forum Energy Technologies stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $70.63, for a total transaction of $353,150.00. Following the transaction, the executive vice president owned 85,512 shares of the company’s stock, valued at $6,039,712.56. The trade was a 5.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 11,500 shares of company stock valued at $877,615. 7.70% of the stock is currently owned by corporate insiders.
Forum Energy Technologies Price Performance
Shares of FET stock opened at $80.56 on Friday. The stock has a market cap of $906.30 million, a price-to-earnings ratio of -537.03, a PEG ratio of 2.49 and a beta of 0.53. The business’s fifty day moving average is $62.57 and its 200 day moving average is $58.50. Forum Energy Technologies, Inc. has a twelve month low of $25.07 and a twelve month high of $87.42. The company has a quick ratio of 1.13, a current ratio of 2.19 and a debt-to-equity ratio of 0.49.
Forum Energy Technologies (NYSE:FET – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.56 by $0.60. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%.The business had revenue of $226.22 million during the quarter, compared to analyst estimates of $212.35 million. Research analysts expect that Forum Energy Technologies, Inc. will post 4.01 EPS for the current fiscal year.
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.
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