TechnipFMC (NYSE:FTI) Hits New 1-Year High – Here’s What Happened
by Kim Johansen · The Markets DailyShares of TechnipFMC plc (NYSE:FTI – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $68.40 and last traded at $68.6090, with a volume of 587200 shares trading hands. The stock had previously closed at $65.26.
Analysts Set New Price Targets
FTI has been the subject of several research reports. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Citigroup upped their price target on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Barclays reissued an “overweight” rating and set a $69.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. Finally, TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.47.
Read Our Latest Analysis on TechnipFMC
TechnipFMC Price Performance
The company’s 50 day simple moving average is $60.00 and its two-hundred day simple moving average is $48.46. The stock has a market capitalization of $27.23 billion, a P/E ratio of 29.31, a PEG ratio of 1.20 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89.
TechnipFMC (NYSE:FTI – Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. As a group, equities analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.
TechnipFMC Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s payout ratio is 8.66%.
Insider Activity at TechnipFMC
In related news, insider Jonathan Landes sold 116,194 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.20, for a total value of $7,227,266.80. Following the sale, the insider owned 71,356 shares in the company, 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 the SEC website. Also, EVP Luana Duffe sold 47,951 shares of TechnipFMC stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the sale, the executive vice president directly owned 78,871 shares of the company’s stock, valued at $4,923,916.53. This represents a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,210,092 shares of company stock worth $75,322,232 over the last ninety days. Company insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On TechnipFMC
A number of institutional investors and hedge funds have recently made changes to their positions in 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 valued at $26,000 after acquiring an additional 657 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in TechnipFMC during the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC during the 3rd quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $41,000. Finally, Torren Management LLC bought a new position in TechnipFMC in the 4th quarter valued at $45,000. Institutional investors own 96.58% of the company’s stock.
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.