TechnipFMC (NYSE:FTI) Hits New 52-Week High – Should You Buy?

Shares of TechnipFMC plc (NYSE:FTI) reached a new 52-week high on Thursday . The stock traded as high as $80.55 and last traded at $77.0740, with a volume of 3037501 shares traded. The stock had previously closed at $78.29.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FTI shares. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Evercore reaffirmed an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a report on Friday, May 1st. Finally, Susquehanna decreased their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $71.14 and a two-hundred day moving average price of $69.21. The stock has a market capitalization of $30.44 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.58 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. On average, analysts expect that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The business 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is currently 6.94%.

Insider Activity

In related news, Director Eric D. Mullins purchased 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC acquired a new stake in TechnipFMC in the 2nd quarter valued at about $3,470,000. Chase Investment Counsel Corp acquired a new position in shares of TechnipFMC during the 2nd quarter worth approximately $12,397,000. Asset Management One Co. Ltd. purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $833,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of TechnipFMC in the second quarter valued at approximately $8,407,000. Finally, Fisher Asset Management LLC increased its holdings in shares of TechnipFMC by 7.1% in the fourth quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock valued at $18,200,000 after purchasing an additional 27,111 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

About TechnipFMC

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.