TechnipFMC (NYSE:FTI) Hits New 1-Year High – Here’s Why

TechnipFMC plc (NYSE:FTIGet Free Report)’s share price reached a new 52-week high on Friday . The company traded as high as $77.81 and last traded at $77.2540, with a volume of 153782 shares traded. The stock had previously closed at $76.02.

Analyst Ratings Changes

Several brokerages have recently issued reports on FTI. UBS Group set a $80.00 price target on TechnipFMC in a research report on Wednesday, June 3rd. Piper Sandler boosted their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Susquehanna lowered their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. One equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.64.

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TechnipFMC Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $69.42 and a 200 day moving average of $66.11. The stock has a market capitalization of $30.76 billion, a P/E ratio of 29.50, a PEG ratio of 1.58 and a beta of 0.70.

TechnipFMC (NYSE:FTIGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts anticipate that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Institutional Investors Weigh In On TechnipFMC

Several large investors have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of 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 worth $508,276,000 after buying an additional 4,938,498 shares in the last quarter. Norges Bank bought a new stake in TechnipFMC in the fourth quarter valued at $205,468,000. Invesco Ltd. grew its position in TechnipFMC by 64.9% in the fourth 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 during the period. AQR Capital Management LLC raised its stake in TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares in the last quarter. Finally, Northern Trust Corp raised its stake in TechnipFMC by 46.2% during the third quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company’s stock worth $141,283,000 after acquiring an additional 1,132,216 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Company Profile

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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.

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