Forum Energy Technologies, Inc. (NYSE:FET – Get Free Report) EVP John Ivascu sold 4,300 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $90.14, for a total value of $387,602.00. Following the sale, the executive vice president owned 75,512 shares of the company’s stock, valued at approximately $6,806,651.68. This represents a 5.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Forum Energy Technologies Stock Up 1.4%
NYSE FET traded up $1.28 during midday trading on Tuesday, hitting $90.15. 147,827 shares of the company traded hands. The company’s 50-day simple moving average is $82.14 and its 200-day simple moving average is $62.04. Forum Energy Technologies, Inc. has a 52 week low of $26.00 and a 52 week high of $91.41.
Forum Energy Technologies (NYSE:FET – Get Free Report) last announced 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 company had revenue of $226.22 million during the quarter, compared to analysts’ expectations of $212.35 million. As a group, analysts expect that Forum Energy Technologies, Inc. will post 4.01 EPS for the current fiscal year.
Institutional Investors Weigh In On Forum Energy Technologies
Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Forum Energy Technologies by 39.6% during the third quarter. GAMMA Investing LLC now owns 666 shares of the oil and gas company’s stock worth $54,000 after purchasing an additional 189 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Forum Energy Technologies by 23.6% in the 2nd quarter. IFP Advisors Inc now owns 1,289 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 246 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Forum Energy Technologies in the 3rd quarter worth $28,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Forum Energy Technologies in the 2nd quarter worth $33,000. Finally, WINTON GROUP Ltd grew its stake in Forum Energy Technologies by 25.1% during the 2nd quarter. WINTON GROUP Ltd now owns 7,673 shares of the oil and gas company’s stock worth $385,000 after buying an additional 1,539 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have issued reports on FET. Zacks Research lowered Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday. 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 reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.
View Our Latest Stock Report on Forum Energy Technologies
Forum Energy Technologies Company Profile
Forum Energy Technologies, Inc (NYSE:FET) is a global manufacturer of oilfield and industrial equipment serving the exploration, development and production segments of the energy industry. The company designs and supplies products used in drilling, well completion, production and subsea operations.
Forum’s product offerings include drilling and downhole tools, drilling motors, wireline and well-intervention equipment, pressure-control systems, hydraulic-fracturing and stimulation equipment, artificial-lift products, and subsea remotely operated vehicle systems.
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