TechnipFMC (NYSE:FTI) Reaches New 12-Month High – Still a Buy?

TechnipFMC plc (NYSE:FTI) hit a new 52-week high during trading on Monday . The company traded as high as $75.52 and last traded at $75.0950, with a volume of 222604 shares changing hands. The stock had previously closed at $73.79.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of recent research reports. Susquehanna raised their price objective on TechnipFMC from $82.00 to $83.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. The Goldman Sachs Group lifted their target price on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. BMO Capital Markets boosted their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Finally, UBS Group set a $70.00 target price on TechnipFMC in a report on Friday, February 20th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.27.

TechnipFMC Stock Down 4.0%

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 market cap of $28.92 billion, a PE ratio of 31.17, a P/E/G ratio of 1.38 and a beta of 0.71. The stock has a 50-day moving average of $65.92 and a 200-day moving average of $52.25.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Transactions at TechnipFMC

In other news, insider Jonathan Landes sold 116,194 shares of TechnipFMC stock in a transaction dated 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 transaction, the insider owned 71,356 shares in the company, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares in the company, valued at approximately $7,431,320.70. This represents a 59.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of TechnipFMC

Large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of TechnipFMC by 9.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 42,793 shares of the oil and gas company’s stock valued at $1,907,000 after purchasing an additional 3,689 shares during the last quarter. World Investment Advisors purchased a new stake in TechnipFMC during the 4th quarter valued at $207,000. DUTCH ASSET Corp purchased a new stake in TechnipFMC during the 4th quarter valued at $657,000. Corient Private Wealth LLC grew its position in shares of TechnipFMC by 95.7% during the 4th quarter. Corient Private Wealth LLC now owns 14,326 shares of the oil and gas company’s stock valued at $641,000 after acquiring an additional 7,004 shares during the period. Finally, Astoria Portfolio Advisors LLC. bought a new stake in shares of TechnipFMC during the 4th quarter valued at $197,000. 96.58% of the stock is owned by institutional investors.

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.