TechnipFMC (NYSE:FTI) Reaches New 52-Week High – Still a Buy?

TechnipFMC plc (NYSE:FTI)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $64.99 and last traded at $64.1530, with a volume of 4623843 shares. The stock had previously closed at $63.49.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Jefferies Financial Group raised their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. BMO Capital Markets increased their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday. Susquehanna raised their price objective on TechnipFMC from $56.00 to $71.00 and gave the stock a “positive” rating in a research note on Friday, February 20th. Royal Bank Of Canada upped their target price on TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus target price of $55.93.

TechnipFMC Trading Up 1.1%

The company has a market capitalization of $26.45 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 1.25 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $53.61 and its two-hundred day moving average price is $44.93.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.51 by $0.19. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. On average, equities analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be issued 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 dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total value of $415,290.00. Following the completion of the transaction, the director owned 97,860 shares of the company’s stock, valued at $6,400,044. This represents a 6.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors and hedge funds have recently made changes to their positions in FTI. Astoria Portfolio Advisors LLC. bought a new position in TechnipFMC during the 4th quarter worth approximately $197,000. Dorsey Wright & Associates acquired a new stake in TechnipFMC in the fourth quarter worth $5,467,000. Compound Planning Inc. increased its stake in TechnipFMC by 17.8% in the fourth quarter. Compound Planning Inc. now owns 10,417 shares of the oil and gas company’s stock valued at $464,000 after purchasing an additional 1,573 shares in the last quarter. Invesco Ltd. raised its holdings in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after purchasing an additional 4,437,960 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in shares of TechnipFMC during the 4th quarter worth about $358,000. Institutional investors and hedge funds 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.