TechnipFMC (NYSE:FTI) Hits New 1-Year High at $13.14

TechnipFMC plc (NYSE:FTI – Get Rating)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $13.14 and last traded at $13.07, with a volume of 45174 shares. The stock had previously closed at $12.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $13.50 target price for the company in a report on Tuesday, October 25th. StockNews.com initiated coverage on TechnipFMC in a report on Wednesday, October 12th. They set a “hold” rating for the company. BNP Paribas upgraded TechnipFMC from a “neutral” rating to an “outperform” rating and set a $14.50 price objective for the company in a report on Wednesday, September 21st. Piper Sandler boosted their price objective on TechnipFMC from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, November 18th. Finally, Exane BNP Paribas upgraded TechnipFMC from a “neutral” rating to an “outperform” rating in a report on Wednesday, September 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.67.

TechnipFMC Stock Up 0.2 %

The firm has a market capitalization of $5.75 billion, a PE ratio of -25.76 and a beta of 1.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.27. The company has a fifty day simple moving average of $12.01 and a two-hundred day simple moving average of $9.68.

TechnipFMC (NYSE:FTI – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.75 billion. TechnipFMC had a negative return on equity of 1.42% and a negative net margin of 3.46%. Analysts forecast that TechnipFMC plc will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of TechnipFMC by 7.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 64,762,957 shares of the oil and gas company’s stock worth $435,855,000 after acquiring an additional 4,293,102 shares in the last quarter. FMR LLC increased its position in TechnipFMC by 40.8% during the 2nd quarter. FMR LLC now owns 45,221,055 shares of the oil and gas company’s stock valued at $304,337,000 after buying an additional 13,097,003 shares in the last quarter. Pzena Investment Management LLC increased its position in TechnipFMC by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 26,367,730 shares of the oil and gas company’s stock valued at $223,071,000 after buying an additional 70,388 shares in the last quarter. Dimensional Fund Advisors LP increased its position in TechnipFMC by 7.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 19,839,223 shares of the oil and gas company’s stock valued at $167,839,000 after buying an additional 1,296,637 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in TechnipFMC by 5.2% during the 2nd quarter. Franklin Resources Inc. now owns 19,389,484 shares of the oil and gas company’s stock valued at $130,491,000 after buying an additional 957,874 shares in the last quarter. 94.52% of the stock is owned by institutional investors.

About TechnipFMC

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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.