I picked this up on a property I bought. I reached out to Oilfield Industrial Supply and was told it's a swivel hoist connected to a 2” 1502 nut, likely used for lifting red iron pup joints or high pressure hoses with union connections. Another fellow I know who worked in the patch said it's for a Swage Line for cementing in most cases, picking up the cement head/lift knobbing. Also, I was told it's used for picking up big valves on a fracking crew. Oilfield Industrial Supply said this piece used is worth up to $300. I'm selling it for $250 cash. Located in Bryan, TX. nine79.two55.0four89.
The info embossed on the nut reads US 2" FIG 1502 15000 CWP FMC WECO.