TechnipFMC (NYSE:FTI) Reaches New 1-Year High – What’s Next?

TechnipFMC plc (NYSE:FTI)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $80.56 and last traded at $80.4070, with a volume of 199544 shares trading hands. The stock had previously closed at $79.67.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FTI shares. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group set a $80.00 price objective on TechnipFMC in a research note on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Barclays boosted their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Trading Up 0.7%

The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $72.84 and a 200-day moving average price of $70.30. The firm has a market capitalization of $31.46 billion, a PE ratio of 27.79, a P/E/G ratio of 1.57 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that TechnipFMC plc will post 3.15 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Insider Buying and Selling at TechnipFMC

In related news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director directly owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of TechnipFMC

A number of institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth increased its holdings in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the period. Sivia Capital Partners LLC increased its stake in TechnipFMC by 76.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after purchasing an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in TechnipFMC by 132.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Ossiam raised its holdings in TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 546 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.