Forum Energy Technologies (NYSE:FET) Releases Earnings Results

Forum Energy Technologies (NYSE:FETGet Free Report) issued its quarterly earnings data on Thursday. The oil and gas company reported ($0.19) earnings per share for the quarter, reports. Forum Energy Technologies had a negative net margin of 3.34% and a negative return on equity of 1.37%. The company had revenue of $207.80 million for the quarter. Forum Energy Technologies updated its Q4 2024 guidance to EPS.

Forum Energy Technologies Stock Down 0.1 %

Shares of FET stock opened at $13.96 on Friday. Forum Energy Technologies has a 1 year low of $12.83 and a 1 year high of $24.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 2.69. The business’s fifty day moving average is $15.77 and its 200-day moving average is $16.90. The stock has a market cap of $171.43 million, a PE ratio of -6.18 and a beta of 2.44.

Insider Buying and Selling

In other Forum Energy Technologies news, CEO Neal Lux purchased 4,500 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $15.22 per share, with a total value of $68,490.00. Following the acquisition, the chief executive officer now owns 145,890 shares of the company’s stock, valued at $2,220,445.80. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Forum Energy Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in shares of Forum Energy Technologies during the first quarter worth $221,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Forum Energy Technologies by 0.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 255,409 shares of the oil and gas company’s stock worth $4,306,000 after buying an additional 1,511 shares during the period. Vanguard Group Inc. increased its position in shares of Forum Energy Technologies by 0.7% in the first quarter. Vanguard Group Inc. now owns 538,148 shares of the oil and gas company’s stock worth $10,752,000 after acquiring an additional 3,516 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Forum Energy Technologies by 19.5% during the second quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock valued at $939,000 after acquiring an additional 9,090 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Forum Energy Technologies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 438,899 shares of the oil and gas company’s stock valued at $7,400,000 after acquiring an additional 25,982 shares during the period. Institutional investors and hedge funds own 65.60% of the company’s stock.

Forum Energy Technologies Company Profile

(Get Free Report)

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.

See Also

Earnings History for Forum Energy Technologies (NYSE:FET)

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