Forum Energy Technologies (NYSE:FET) Shares Gap Up Following Earnings Beat

Forum Energy Technologies, Inc. (NYSE:FET) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $51.43, but opened at $61.42. Forum Energy Technologies shares last traded at $58.5350, with a volume of 28,096 shares.

The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.59. Forum Energy Technologies had a positive return on equity of 4.15% and a negative net margin of 0.78%.The business had revenue of $226.22 million during the quarter, compared to analyst estimates of $212.35 million.

Trending Headlines about Forum Energy Technologies

Here are the key news stories impacting Forum Energy Technologies this week:

• Positive Sentiment: Forum Energy Technologies reported second-quarter EPS of $1.16, well above the $0.57 analyst consensus and compared with a $0.10 loss a year earlier. Revenue reached $226.22 million, exceeding the $212.35 million estimate. Forum Energy Technologies Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Revenue increased 8% sequentially, while adjusted EBITDA rose 39% to $32 million. Orders totaled $236 million, producing a 104% book-to-bill ratio and suggesting demand exceeded shipments. The company also said it expanded gross and adjusted EBITDA margins and grew market share during the quarter. Forum Energy Technologies Announces Second Quarter 2026 Results
• Positive Sentiment: Management raised full-year 2026 revenue guidance to $870 million-$910 million, above the $856.2 million consensus, and set third-quarter revenue guidance at $225 million-$245 million versus the $219 million estimate. The company also repurchased $8 million of shares during the first half of the year. Forum Energy Technologies Shares Jump After Hours on Q2 Results and Raised Guidance
• Neutral Sentiment: Trading data showed 112 institutional investors increased FET positions in the latest quarter, while 50 reduced holdings, indicating mixed institutional sentiment.
• Negative Sentiment: Two company insiders sold shares during the past six months and made no reported open-market purchases. Forum Energy Technologies also continues to report a slightly negative net margin, despite positive quarterly profitability metrics.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. Zacks Research lowered shares of Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen cut shares of Forum Energy Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Insider Buying and Selling

In other news, SVP Michael Dewayne Danford sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $55.49, for a total value of $166,470.00. Following the sale, the senior vice president directly owned 54,139 shares of the company’s stock, valued at approximately $3,004,173.11. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Forum Energy Technologies

Several large investors have recently modified their holdings of FET. Meeder Asset Management Inc. bought a new position in Forum Energy Technologies in the 4th quarter worth about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Forum Energy Technologies during the 4th quarter valued at about $37,000. Tower Research Capital LLC TRC increased its stake in Forum Energy Technologies by 558.7% during 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 purchasing an additional 1,771 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in Forum Energy Technologies in the fourth quarter worth about $75,000. Finally, Osaic Holdings Inc. purchased a new position in Forum Energy Technologies in the second quarter worth about $78,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Trading Up 10.6%

The firm’s 50 day moving average price is $51.85 and its 200-day moving average price is $53.51. The stock has a market cap of $642.85 million, a P/E ratio of -98.22, a P/E/G ratio of 2.96 and a beta of 0.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.23 and a quick ratio of 1.09.

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.