Forum Energy Technologies Inc (NYSE:FET) CEO C Christopher Gaut acquired 312,500 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average price of $1.28 per share, with a total value of $400,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,127,833 shares of the company’s stock, valued at $2,723,626.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
C Christopher Gaut also recently made the following trade(s):
- On Tuesday, September 3rd, C Christopher Gaut acquired 20,000 shares of Forum Energy Technologies stock. The shares were bought at an average price of $1.35 per share, with a total value of $27,000.00.
FET traded down $0.06 during midday trading on Friday, reaching $1.66. 1,077,108 shares of the company were exchanged, compared to its average volume of 1,141,464. The stock has a market capitalization of $169.01 million, a P/E ratio of 83.00 and a beta of 2.51. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.11 and a current ratio of 3.09. The stock’s 50-day simple moving average is $1.24 and its 200 day simple moving average is $2.05. Forum Energy Technologies Inc has a one year low of $0.88 and a one year high of $7.00.
Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. Forum Energy Technologies had a negative return on equity of 0.34% and a negative net margin of 91.13%. The company had revenue of $239.30 million for the quarter, compared to analyst estimates of $245.31 million. On average, research analysts anticipate that Forum Energy Technologies Inc will post -0.19 earnings per share for the current year.
FET has been the topic of several research analyst reports. Morgan Stanley decreased their target price on Forum Energy Technologies from $3.50 to $3.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Citigroup cut Forum Energy Technologies from a “buy” rating to a “neutral” rating in a report on Monday, September 30th. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Thursday, November 14th. Barclays reiterated a “hold” rating and issued a $1.75 price target on shares of Forum Energy Technologies in a report on Friday. Finally, Scotiabank set a $1.00 price target on Forum Energy Technologies and gave the company a “hold” rating in a report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $2.56.
A number of institutional investors have recently made changes to their positions in FET. FMR LLC raised its position in Forum Energy Technologies by 81.7% in the 1st quarter. FMR LLC now owns 3,014,397 shares of the oil and gas company’s stock valued at $15,404,000 after buying an additional 1,355,397 shares during the last quarter. First Trust Advisors LP increased its position in shares of Forum Energy Technologies by 147.1% during the 1st quarter. First Trust Advisors LP now owns 513,202 shares of the oil and gas company’s stock worth $2,622,000 after purchasing an additional 305,506 shares during the last quarter. Perella Weinberg Partners Capital Management LP increased its position in shares of Forum Energy Technologies by 33.4% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 5,004,973 shares of the oil and gas company’s stock worth $17,117,000 after purchasing an additional 1,252,305 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Forum Energy Technologies during the 2nd quarter worth approximately $241,000. Finally, Swiss National Bank increased its position in shares of Forum Energy Technologies by 9.9% during the 2nd quarter. Swiss National Bank now owns 142,124 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 12,800 shares during the last quarter. 80.90% of the stock is currently owned by institutional investors and hedge funds.
About Forum Energy Technologies
Forum Energy Technologies, Inc designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling, energy subsea construction and service markets, and other markets, such as alternative energy, defense, and communications.
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