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

TechnipFMC plc (NYSE:FTI) shares hit a new 52-week high on Thursday . The stock traded as high as $80.56 and last traded at $80.4070, with a volume of 199544 shares. The stock had previously closed at $79.67.

Wall Street Analyst Weigh In

FTI has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Susquehanna reduced their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Finally, Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The stock has a market capitalization of $31.24 billion, a PE ratio of 27.66, a P/E/G ratio of 1.60 and a beta of 0.74. The company’s fifty day simple moving average is $73.40 and its two-hundred day simple moving average is $70.50.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. As a group, sell-side analysts predict that TechnipFMC plc will post 3.17 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Insider Buying and Selling at TechnipFMC

In related news, Director Eric Mullins acquired 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FTI. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC during the first quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC in the 3rd quarter worth approximately $32,000. Coppell Advisory Solutions LLC purchased a new stake in TechnipFMC in the 2nd quarter worth approximately $35,000. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% in the 1st 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. Finally, Ascentis Independent Advisors purchased a new stake in shares of TechnipFMC in the first quarter valued at $37,000. 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.