De Lisle Partners LLP Buys Shares of 226,889 Forum Energy Technologies, Inc. $FET

Key Points

• De Lisle Partners LLP acquired 226,889 shares of Forum Energy Technologies valued at approximately $11.4 million, giving it a 2.02% stake and making FET its 20th-largest holding.
• Institutional ownership remains substantial at 65.6%, with BlackRock initiating a roughly $47.8 million position and several other firms increasing their holdings.
• Forum Energy Technologies beat quarterly earnings expectations, reporting $1.16 EPS versus the $0.56 consensus and revenue of $226.2 million; analyst sentiment was mixed but the overall consensus rating was “Moderate Buy.”

De Lisle Partners LLP purchased a new position in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 226,889 shares of the oil and gas company's stock, valued at approximately $11,389,000. Forum Energy Technologies makes up approximately 1.2% of De Lisle Partners LLP's holdings, making the stock its 20th biggest holding. De Lisle Partners LLP owned approximately 2.02% of Forum Energy Technologies at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Forum Energy Technologies during the second quarter valued at approximately $47,765,000. Keyframe Capital Partners L.P. raised its stake in Forum Energy Technologies by 8.5% in the second quarter. Keyframe Capital Partners L.P. now owns 848,519 shares of the oil and gas company's stock worth $16,521,000 after buying an additional 66,322 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Forum Energy Technologies by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 626,938 shares of the oil and gas company's stock worth $36,775,000 after buying an additional 33,802 shares during the period. IES Holdings Inc. purchased a new stake in Forum Energy Technologies during the fourth quarter worth $20,107,000. Finally, JPMorgan Chase & Co. boosted its position in Forum Energy Technologies by 62.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company's stock valued at $7,006,000 after acquiring an additional 100,720 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company's stock.

Insider Buying and Selling at Forum Energy Technologies

In related news, SVP Michael Dewayne Danford sold 1,500 shares of the business's stock in a transaction 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 directly owned 52,639 shares in the company, valued at $4,153,743.49. The trade was a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John C. Ivascu sold 5,000 shares of the business's stock in a transaction 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. This represents 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. In 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 NYSE:FET opened at $77.82 on Friday. Forum Energy Technologies, Inc. has a twelve month low of $23.61 and a twelve month high of $87.42. The company has a current ratio of 2.19, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. The company has a market cap of $875.47 million, a PE ratio of -518.77, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53. The company's 50 day moving average is $59.89 and its 200 day moving average is $57.41.

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. The business had revenue of $226.22 million during the quarter, compared to analysts' expectations of $212.35 million. Forum Energy Technologies had a negative net margin of 0.19% and a positive return on equity of 9.45%. On average, sell-side analysts forecast that Forum Energy Technologies, Inc. will post 3.95 EPS for the current year.

Analyst Upgrades and Downgrades

FET has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Forum Energy Technologies in a report on Friday, July 17th. Wall Street Zen upgraded shares of Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 2nd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Forum Energy Technologies Profile

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.

Want to see what other hedge funds are holding FET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forum Energy Technologies, Inc. (NYSE:FET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source