Energy Technology Forum (NYSE: FET – Get a rating) will release its earnings data ahead of market open on Friday, May 6. Investors interested in listening to the company’s conference call can do so using this link.
Energy Technology Forum (NYSE: FET – Get a rating) last released its quarterly earnings data on Monday, February 28. The oil and gas company reported ($2.23) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($0.80) by ($1.43). Forum Energy Technologies recorded a negative net margin of 15.29% and a negative return on equity of 17.63%. The company had revenue of $148.10 million for the quarter.
Action Forum Energy Technologies opened at $21.47 on Friday. The stock has a 50-day simple moving average of $22.35 and a 200-day simple moving average of $20.35. The company has a quick ratio of 1.17, a current ratio of 2.54 and a debt ratio of 0.71. The stock has a market capitalization of $122.83 million, a price-earnings ratio of -1.46 and a beta of 3.65. Forum Energy Technologies has a 12-month low of $14.71 and a 12-month high of $28.50.
A number of equity research analysts have recently released reports on the company. Zacks Investment Research upgraded Forum Energy Technologies from a “sell” rating to a “hold” rating in a Monday, January 10 research note. StockNews.com launched coverage on Forum Energy Technologies in a report on Thursday, March 31. They have placed a “holding” rating on the stock.
In other news, insider Scf Partners, Inc. sold 6,906 shares of Forum Energy Technologies in a trade on Thursday, March 24. The stock was sold at an average price of $23.64, for a total value of $163,257.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. In the past 90 days, insiders have sold 77,381 shares of the company worth $1,830,226. Company insiders own 11.00% of the company’s shares.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Forum Energy Technologies by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 9,978 shares of the oil and gas company worth $160,000 after acquiring 594 more shares last quarter. Millennium Management LLC bought a new position in Forum Energy Technologies in the 4th quarter at a value of $213,000. Bank of New York Mellon Corp bought a new position in Forum Energy Technologies in Q3 worth $287,000. Bank of America Corp DE increased its stake in Forum Energy Technologies by 5.3% in the second quarter. Bank of America Corp DE now owns 14,241 shares of the oil and gas company worth $334,000 after buying 715 additional shares during the period. Finally, Invesco Ltd. increased its stake in Forum Energy Technologies by 3.6% during the third quarter. Invesco Ltd. now owns 19,005 shares of the oil and gas company valued at $428,000 after acquiring an additional 664 shares during the period. 48.23% of the shares are held by institutional investors and hedge funds.
About Forum Energy Technologies (Get a rating)
Forum Energy Technologies, Inc. designs, manufactures, and distributes products for the petroleum, natural gas, industrial, and renewable energy industries in the United States and around the world. It operates through three segments: drilling and downhole, completions and production. The Drilling & Downhole segment designs, manufactures and supplies products and provides related services to the drilling, well construction, artificial lift and subsea energy construction markets, including applications in the oil and natural gas, renewable energy, defense and communications.
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