Quantbot Technologies LP Invests $355,000 in Forum Energy Technologies, Inc. $FET

Quantbot Technologies LP acquired a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,059 shares of the oil and gas company’s stock, valued at approximately $355,000.

Several other large investors have also bought and sold shares of FET. De Lisle Partners LLP purchased a new position in Forum Energy Technologies in the second quarter worth about $11,389,000. JB Capital Partners LP bought a new stake in shares of Forum Energy Technologies during the second quarter valued at approximately $6,067,784. Meeder Asset Management Inc. purchased a new position in Forum Energy Technologies in the 2nd quarter worth approximately $123,000. BlackRock Inc. purchased a new position in Forum Energy Technologies in the 2nd quarter worth approximately $47,765,000. Finally, Deutsche Bank AG bought a new position in Forum Energy Technologies in the 2nd quarter valued at approximately $629,000. 65.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Forum Energy Technologies news, SVP Michael Dewayne Danford sold 1,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $78.91, for a total transaction of $118,365.00. Following the completion of the sale, the senior vice president directly owned 52,639 shares in the company, valued at $4,153,743.49. The trade was a 2.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John C. Ivascu sold 5,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $70.63, for a total transaction of $353,150.00. Following the sale, the executive vice president directly owned 85,512 shares of the company’s stock, valued at $6,039,712.56. The trade was a 5.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,500 shares of company stock worth $877,615 over the last three months. Insiders own 7.70% of the company’s stock.

Forum Energy Technologies Price Performance

Shares of FET opened at $80.56 on Friday. The firm has a fifty day simple moving average of $62.57 and a two-hundred day simple moving average of $58.50. The firm has a market cap of $906.30 million, a PE ratio of -537.03, a P/E/G ratio of 2.49 and a beta of 0.53. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. Forum Energy Technologies, Inc. has a 1-year low of $25.07 and a 1-year high of $87.42.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.56 by $0.60. The company had revenue of $226.22 million during the quarter, compared to analyst estimates of $212.35 million. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%. On average, equities analysts anticipate that Forum Energy Technologies, Inc. will post 4.01 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on FET. Weiss Ratings reissued a “sell (d-)” rating on shares of Forum Energy Technologies in a report on Friday, July 17th. Wall Street Zen raised Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 2nd. Finally, Zacks Research raised Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Forum Energy Technologies currently has an average rating of “Moderate Buy”.

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.