TechnipFMC (NYSE:FTI) Hits New 52-Week High – Here’s Why

TechnipFMC plc (NYSE:FTI)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $72.00 and last traded at $70.2050, with a volume of 5719 shares traded. The stock had previously closed at $71.19.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $49.00 to $62.00 in a research note on Friday, February 20th. UBS Group set a $70.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Piper Sandler increased their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, Barclays restated an “overweight” rating and set a $69.00 target price on shares of TechnipFMC in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

TechnipFMC Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $28.35 billion, a PE ratio of 30.57, a PEG ratio of 1.31 and a beta of 0.70. The firm’s 50-day simple moving average is $61.88 and its 200-day simple moving average is $49.53.

TechnipFMC (NYSE:FTI) last issued its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. On average, research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s dividend payout ratio is currently 8.66%.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David Light sold 6,622 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $413,411.46. Following the completion of the sale, the chief accounting officer owned 5,005 shares in the company, valued at $312,462.15. This represents a 56.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,216,442 shares of company stock valued at $75,762,414 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors have recently bought and sold shares of FTI. Blue Trust Inc. increased its position in shares of TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC in the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC in the 3rd quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC during the 4th quarter worth $41,000. Finally, Torren Management LLC acquired a new position in TechnipFMC during the 4th quarter valued at about $45,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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.