TechnipFMC (NYSE:FTI) Reaches New 1-Year High – Still a Buy?

Shares of TechnipFMC plc (NYSE:FTI) hit a new 52-week high on Tuesday . The stock traded as high as $64.99 and last traded at $64.1530, with a volume of 4623843 shares trading hands. The stock had previously closed at $63.49.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. Barclays restated an “overweight” rating and set a $69.00 price objective on shares of TechnipFMC in a report on Friday. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, TD Cowen restated a “buy” rating on shares of TechnipFMC in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.93.

TechnipFMC Price Performance

The company has a market capitalization of $25.66 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.23 and a beta of 0.69. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $52.74 and a 200 day simple moving average of $44.57.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 8.66%.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 657 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in TechnipFMC in the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TechnipFMC during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.