Deutsche Bank AG Invests $629,000 in Forum Energy Technologies, Inc. $FET

Deutsche Bank AG acquired a new stake in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,524 shares of the oil and gas company's stock, valued at approximately $629,000. Deutsche Bank AG owned about 0.11% of Forum Energy Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FET. Meeder Asset Management Inc. purchased a new position in Forum Energy Technologies in the fourth quarter valued at approximately $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth approximately $37,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth approximately $75,000. Tower Research Capital LLC TRC boosted its holdings in shares of Forum Energy Technologies by 558.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company's stock valued at $41,000 after buying an additional 1,771 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Forum Energy Technologies in the 1st quarter valued at $126,000. Institutional investors and hedge funds own 65.60% of the company's stock.

Analyst Ratings Changes

FET has been the subject of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Forum Energy Technologies in a report on Friday, July 17th. Wall Street Zen upgraded Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a research note 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 investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Insiders Place Their Bets

In related news, EVP John C. Ivascu sold 5,000 shares of Forum Energy Technologies stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $70.63, for a total value of $353,150.00. Following the transaction, the executive vice president directly owned 85,512 shares in the company, valued at $6,039,712.56. This trade represents a 5.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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. This represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,500 shares of company stock worth $877,615. 7.70% of the stock is currently owned by insiders.

Forum Energy Technologies Stock Down 0.2%

FET opened at $81.80 on Wednesday. Forum Energy Technologies, Inc. has a 52 week low of $25.07 and a 52 week high of $87.42. The business has a 50 day moving average price of $63.81 and a two-hundred day moving average price of $59.05. The company has a quick ratio of 1.13, a current ratio of 2.19 and a debt-to-equity ratio of 0.49. The company has a market cap of $920.25 million, a PE ratio of -545.30, a P/E/G ratio of 2.56 and a beta of 0.59.

Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.60. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%.The company had revenue of $226.22 million for the quarter, compared to the consensus estimate of $212.35 million. As a group, research analysts anticipate that Forum Energy Technologies, Inc. will post 4.01 EPS for the current year.

Forum Energy Technologies Company 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.

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