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

Forum Energy Technologies, Inc. (NYSE:FET) shares gapped up prior to trading on Friday following a stronger than expected earnings report. 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 trading hands.

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

Forum Energy Technologies News Summary

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 Upgrades and Downgrades

FET has been the subject of several recent research reports. Wall Street Zen cut Forum Energy Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Zacks Research cut Forum Energy Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Forum Energy Technologies currently has a consensus rating of “Reduce”.

Insider Activity

In other news, SVP Michael Dewayne Danford sold 3,000 shares of Forum Energy Technologies stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $55.49, for a total value of $166,470.00. Following the transaction, the senior vice president owned 54,139 shares in the company, valued at approximately $3,004,173.11. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Forum Energy Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of FET. IES Holdings Inc. bought a new stake in Forum Energy Technologies during the 4th quarter valued at $20,107,000. AQR Capital Management LLC boosted its position in Forum Energy Technologies by 1,327.5% during the 4th quarter. AQR Capital Management LLC now owns 146,203 shares of the oil and gas company’s stock valued at $5,402,000 after buying an additional 135,961 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Forum Energy Technologies in the 1st quarter worth $7,682,000. JPMorgan Chase & Co. grew its holdings in Forum Energy Technologies by 204.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 161,596 shares of the oil and gas company’s stock worth $3,146,000 after acquiring an additional 108,490 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Forum Energy Technologies by 461.5% in the fourth quarter. Invesco Ltd. now owns 100,209 shares of the oil and gas company’s stock valued at $3,703,000 after acquiring an additional 82,363 shares during the period. Institutional investors own 65.60% of the company’s stock.

Forum Energy Technologies Price Performance

The stock has a market cap of $642.85 million, a PE ratio of -98.22, a PEG ratio of 2.96 and a beta of 0.54. The business’s 50-day simple moving average is $51.85 and its 200-day simple moving average is $53.51. The company has a quick ratio of 1.09, a current ratio of 2.23 and a debt-to-equity ratio of 0.54.

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.