TechnipFMC (NYSE:FTI) Sets New 1-Year High – Should You Buy?

TechnipFMC plc (NYSE:FTI) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $78.75 and last traded at $78.5470, with a volume of 285556 shares changing hands. The stock had previously closed at $76.67.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Barclays upped their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The stock has a market capitalization of $30.86 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72. The company has a 50-day simple moving average of $70.06 and a two-hundred day simple moving average of $68.34.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts predict that TechnipFMC plc will post 3.05 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Institutional Investors Weigh In On TechnipFMC

Several large investors have recently made changes to their positions in FTI. BlackRock Inc. bought a new stake in shares of TechnipFMC during the second quarter valued at approximately $3,081,514,000. AQR Capital Management LLC increased its position in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after acquiring an additional 3,549,839 shares during the period. State Street Corp increased its position in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Invesco Ltd. raised its stake in TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after acquiring an additional 4,437,960 shares in the last quarter. Finally, Boston Partners raised its stake in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after acquiring an additional 192,549 shares in the last quarter. Institutional investors and hedge funds 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.