TechnipFMC (NYSE:FTI) Reaches New 12-Month High on Analyst Upgrade

Shares of TechnipFMC plc (NYSE:FTI) reached 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.

FTI has been the subject of a number of other research reports. Citigroup raised 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. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. BMO Capital Markets lifted their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Royal Bank Of Canada lifted their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.27.

Insider Buying and Selling

In other TechnipFMC news, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02. Following the sale, the chief financial officer directly owned 238,983 shares in the company, valued at approximately $15,086,996.79. This trade represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Landes sold 116,194 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the completion of the sale, the insider owned 71,356 shares in the company, valued at $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,216,442 shares of company stock valued at $75,762,414 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in TechnipFMC by 5,475.0% in the third 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 bought a new stake in TechnipFMC in the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC during the third quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC during the fourth quarter valued at about $41,000. Finally, Torren Management LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at about $45,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 2.2%

The business’s 50 day moving average is $64.20 and its two-hundred day moving average is $51.06. 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 firm has a market capitalization of $29.39 billion, a P/E ratio of 31.68, a PEG ratio of 1.31 and a beta of 0.71.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 17th. TechnipFMC’s payout ratio is currently 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.