TechnipFMC (NYSE:FTI) Reaches New 1-Year High After Analyst Upgrade

Shares of TechnipFMC plc (NYSE:FTI) hit a new 52-week high on Tuesday after Susquehanna raised their price target on the stock from $82.00 to $83.00. Susquehanna currently has a positive rating on the stock. TechnipFMC traded as high as $72.94 and last traded at $72.5390, with a volume of 534322 shares traded. The stock had previously closed at $71.59.

Several other analysts have also recently commented on the company. Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group set a $70.00 price target on TechnipFMC in a research report on Friday, February 20th. Citigroup boosted their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.27.

Insider Activity

In related news, insider Jonathan Landes sold 116,194 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the transaction, the insider owned 71,356 shares of the company’s stock, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.24, for a total value of $45,648,309.76. Following the transaction, the chief executive officer directly owned 2,411,852 shares in the company, valued at approximately $150,113,668.48. The trade was a 23.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 in the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised 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 purchasing an additional 657 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in TechnipFMC in the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in TechnipFMC in the 3rd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC in the 4th quarter valued at about $41,000. Finally, Torren Management LLC purchased a new position in shares of TechnipFMC in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.8%

The firm has a market cap of $28.98 billion, a PE ratio of 31.27, a P/E/G ratio of 1.31 and a beta of 0.71. 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 business has a fifty day moving average price of $63.85 and a 200 day moving average price of $50.83.

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

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

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.