TechnipFMC (NYSE:FTI) Hits New 1-Year High – Here’s Why

TechnipFMC plc (NYSE:FTI)’s stock price hit a new 52-week high on Friday . The company traded as high as $33.45 and last traded at $32.44, with a volume of 307545 shares. The stock had previously closed at $32.55.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FTI shares. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target on the stock. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. Barclays lifted their price target on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Citigroup upped their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Bank of America lifted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $35.92.

TechnipFMC Trading Down 1.7 %

The business has a 50-day moving average of $29.78 and a 200-day moving average of $27.63. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 21.06 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, research analysts forecast that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.62%. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

TechnipFMC declared that its board has approved a share repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of TechnipFMC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co grew its position in TechnipFMC by 68.9% during the fourth quarter. Diversified Trust Co now owns 61,281 shares of the oil and gas company’s stock worth $1,773,000 after buying an additional 24,989 shares in the last quarter. Insight Wealth Strategies LLC acquired a new stake in TechnipFMC in the 4th quarter valued at about $4,088,000. GAMMA Investing LLC raised its holdings in TechnipFMC by 22.3% during the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 414 shares during the last quarter. Franklin Resources Inc. grew its position in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after buying an additional 679,748 shares during the period. Finally, Sanctuary Advisors LLC raised its stake in shares of TechnipFMC by 264.1% during the third quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company’s stock worth $755,000 after buying an additional 20,877 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.