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

TechnipFMC plc (NYSE:FTI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $31.53 and last traded at $31.25, with a volume of 251716 shares traded. The stock had previously closed at $31.04.

Analyst Ratings Changes

FTI has been the topic of several research reports. Bank of America upped their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective on the stock. BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Citigroup upped their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Susquehanna upped their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Buy” and an average price target of $33.91.

TechnipFMC Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock’s 50-day moving average is $27.21 and its 200 day moving average is $26.50. The firm has a market cap of $13.26 billion, a P/E ratio of 20.59 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $0.21 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts predict that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio is 13.16%.

TechnipFMC announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently bought and sold shares of FTI. Oak Thistle LLC raised its holdings in TechnipFMC by 3.2% in the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after acquiring an additional 421 shares during the period. Pallas Capital Advisors LLC raised its holdings in TechnipFMC by 5.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after acquiring an additional 433 shares during the period. GAMMA Investing LLC raised its holdings in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the period. Ballentine Partners LLC raised its holdings in TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock valued at $294,000 after acquiring an additional 515 shares during the period. Finally, Creative Planning raised its holdings in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after acquiring an additional 546 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.