Forum Energy TechnologiesFET
FET
About: Forum Energy Technologies Inc is a products company, serving the oil, natural gas, industrial and renewable energy industries. The company designs, manufactures, and distributes products and engages in aftermarket parts supply and services that complement its product offering. Its products include engineered capital equipment, as well as products that are consumed in the drilling, well construction, production, and transportation of oil and natural gas. It operates in three reporting segments, namely drilling and downhole which is also its key revenue generating segment, completions, and production. Revenue largely comes from consumable products and activity-based equipment. Consumable products include valves, centrifugal pumps, mud pump fluid end components, rig sensors among others.
Employees: 1,600
0
Funds holding %
of 6,823 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
7,862% more capital invested
Capital invested by funds: $130M [Q2] → $10.4B (+$10.3B) [Q3]
100% more repeat investments, than reductions
Existing positions increased: 32 | Existing positions reduced: 16
50% more funds holding in top 10
Funds holding in top 10: 2 [Q2] → 3 (+1) [Q3]
5.19% more ownership
Funds ownership: 62.35% [Q2] → 67.54% (+5.19%) [Q3]
0% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 9
1% less funds holding
Funds holding: 78 [Q2] → 77 (-1) [Q3]
59% less call options, than puts
Call options by funds: $21K | Put options by funds: $51K
Research analyst outlook
We haven’t received any recent analyst ratings for FET.
Financial journalist opinion
Neutral
Business Wire
3 hours ago
Forum Energy Technologies to Present at the Sidoti Virtual Micro Cap Conference
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) announced today that Neal Lux, President and Chief Executive Officer, and Lyle Williams, Executive Vice President and Chief Financial Officer, are scheduled to present at the Sidoti Virtual Micro Cap Conference on Wednesday, January 22, 2025 at 11:30 a.m. Eastern Time. The presentation can be accessed live at the following link: https://sidoti.zoom.us/webinar/register/WN_msJcxtctQA6hqOwKwkYYIg A link to the live webcast and t.
Neutral
Seeking Alpha
1 week ago
Forum Energy Technologies: A Stock Buying Back 40% Of Its Market Cap
Forum Energy Technologies announced a US$75 million share buyback program, to address the issue of stock undervaluation. The share repurchase program of such a magnitude seems to be supported by the balance sheet, business fundamentals, and especially anticipated FCF in the foreseeable future. I believe the current bearish sentiment represents an opportunity for risk-tolerant, patient investors with no less than a two-year investment time horizon to consider this turnaround story.
Neutral
Business Wire
1 month ago
Forum Energy Technologies Announces $75 Million Share Repurchase Program and Completion of Sale-Leaseback Transactions
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (“FET”) today announced that its Board of Directors has authorized a program for the repurchase of outstanding shares of FET's common stock having an aggregate purchase price of up to $75 million. Shares may be repurchased under the program from time to time, in amounts and at prices that FET deems appropriate, subject to market and business conditions, applicable legal requirements and other considerations. The program does.
Neutral
GlobeNewsWire
1 month ago
Appointment of Evelyn Angelle to Bird's Board of Directors
MISSISSAUGA, Ontario, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Bird Construction Inc. (TSX: BDT) is pleased to announce the appointment of Evelyn Angelle to its Board of Directors (the “Board”), effective immediately. Ms. Angelle will fill a vacancy on the Board, bringing the total number of directors to 10.
Neutral
Accesswire
2 months ago
Forum Energy Technologies to Present at November 21st Virtual Investor Summit Microcap Event
HOUSTON, TX / ACCESSWIRE / November 18, 2024 / Forum Energy Technologies, Inc. (NYSE:FET), a global manufacturing company, serving the oil, natural gas, industrial and renewable energy industries, will present at the Virtual Investor Summit Microcap Event. The company will be available for 1-on-1 meetings throughout the day in addition to their presentation.
Neutral
Business Wire
2 months ago
Forum Energy Technologies Announces Closing of $100 Million Senior Secured Bond Issuance
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (“FET”) announced today that it closed its offering of USD $100.0 million aggregate principal amount of 10.5% senior secured bonds (the “Offering”) on November 8, 2024. The bonds will mature in November 2029 and were issued at par. Net proceeds from the Offering, together with cash on hand, were used to repay all borrowings outstanding under the seller term loan issued in connection with the acquisition of Variperm Energy Ser.
Neutral
Newsfile Corp
2 months ago
Stonegate Capital Partners Updates Coverage on Forum Energy Technologies, Inc. (FET) Q3 24
Dallas, Texas--(Newsfile Corp. - November 4, 2024) - Forum Energy Technologies, Inc. (NYSE: FET) Stonegate Capital Partners updates their coverage on Forum Energy Technologies, Inc. (NYSE: FET). FET reported revenue, adj EBITDA, and adj net income of $207.8M, $25.8M, and ($2.3)M, respectively.
Neutral
Seeking Alpha
2 months ago
Forum Energy Technologies, Inc. (FET) Q3 2024 Earnings Call Transcript
Forum Energy Technologies, Inc. (NYSE:FET ) Q3 2024 Earnings Conference Call November 1, 2024 11:00 AM ET Company Participants Rob Kukla - Director of Investor Relations Neal Lux - President and Chief Executive Officer Lyle Williams - Chief Financial Officer Conference Call Participants Dave Storms - Stonegate John Daniel - Daniel Energy Partners Daniel Pickering - Pickering Energy Partners Jeff Robertson - Water Tower Research Operator Good morning, ladies and gentlemen, and welcome to the Forum Energy Technologies Third Quarter 2024 Earnings Conference Call. My name is Gigi, and I'll be your coordinator for today's call.
Neutral
Business Wire
2 months ago
Forum Energy Technologies Announces Third Quarter 2024 Results; Raises Free Cash Flow Guidance
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2024 revenue of $208 million, a 1% sequential increase. Orders increased 14% sequentially to $206 million, with a book-to-bill ratio of 99%. The third quarter 2024 net loss was $15 million, or $1.20 per diluted share, compared to a second quarter net loss of $7 million, or $0.54 per diluted share. The adjusted net loss for the quarter was $2 million, or $0.19 per diluted share, compared to the se.
Neutral
Business Wire
2 months ago
Forum Energy Technologies Announces Pricing of $100 Million Senior Secured Bond Issuance
HOUSTON--(BUSINESS WIRE)--Forum Energy Technologies, Inc. (NYSE: FET) (“FET”) announced today that it has finalized the terms of FET's private offering of USD $100.0 million aggregate principal amount of 10.5% senior secured bonds (the “Offering”). The bonds will mature in November 2029 and will be issued at par. The Offering is expected to close on November 7, 2024, subject to customary closing conditions. FET intends to use the net proceeds from the Offering, together with cash on hand, to re.
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