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

TechnipFMC plc (NYSE:FTI) shares hit a new 52-week high during 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

Several research analysts have recently commented on the stock. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. Barclays raised their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. TD Cowen reissued a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday. Bank of America lifted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets lifted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $33.91.

TechnipFMC Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 20.59 and a beta of 1.51. The business’s 50-day simple moving average is $27.21 and its two-hundred day simple moving average is $26.50.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results 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. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. Research analysts expect that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.05 per share. The ex-dividend date 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 (DPR) is presently 13.16%.

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

Hedge Funds Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently bought and sold shares of FTI. First Western Trust Bank acquired a new position in TechnipFMC in the first quarter valued at $207,000. Atria Investments Inc acquired a new position in TechnipFMC in the first quarter valued at $1,684,000. GAMMA Investing LLC increased its stake in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares in the last quarter. Fulton Bank N.A. increased its stake in TechnipFMC by 21.7% in the second quarter. Fulton Bank N.A. now owns 19,279 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 3,432 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in TechnipFMC by 0.4% in the second quarter. SG Americas Securities LLC now owns 214,794 shares of the oil and gas company’s stock valued at $5,617,000 after purchasing an additional 916 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

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.