TechnipFMC (NYSE:FTI) Reaches New 12-Month High – What’s Next?

Shares of TechnipFMC plc (NYSE:FTI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.17 and last traded at $46.1090, with a volume of 319376 shares trading hands. The stock had previously closed at $45.26.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler upped their price objective on TechnipFMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Royal Bank Of Canada boosted their price target on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. raised their price objective on TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

TechnipFMC Stock Up 2.0%

The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $18.69 billion, a PE ratio of 20.63, a PEG ratio of 1.08 and a beta of 0.68. The company’s 50 day moving average is $40.82 and its two-hundred day moving average is $37.10.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Tuesday, November 18th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. TechnipFMC’s payout ratio is presently 8.93%.

TechnipFMC declared that its board has authorized a share repurchase plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at TechnipFMC

In other news, CEO Douglas J. Pferdehirt sold 80,304 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.35, for a total value of $3,079,658.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alf Melin sold 113,760 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the transaction, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at approximately $9,310,415.40. The trade was a 32.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 876,603 shares of company stock valued at $33,832,588 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Diversified Trust Co raised its holdings in TechnipFMC by 0.8% during the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock valued at $1,406,000 after buying an additional 306 shares during the period. Geneos Wealth Management Inc. increased its position in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares during the last quarter. Financial Network Wealth Advisors LLC increased its position in TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 346 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of TechnipFMC by 1.5% in the third quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company’s stock valued at $948,000 after acquiring an additional 365 shares during the period. Finally, Gries Financial LLC lifted its holdings in shares of TechnipFMC by 6.2% in the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock worth $266,000 after acquiring an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. 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.