TechnipFMC (NYSE:FTI) Sets New 52-Week High – Time to Buy?

TechnipFMC plc (NYSE:FTI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $53.85 and last traded at $53.92, with a volume of 326766 shares changing hands. The stock had previously closed at $52.20.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler raised their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. BNP Paribas set a $47.00 target price on shares of TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Royal Bank Of Canada lifted their price target on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Finally, BNP Paribas Exane upgraded TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

TechnipFMC Stock Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The stock has a market cap of $21.70 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.01 and a beta of 0.66. The business has a 50 day moving average price of $46.26 and a two-hundred day moving average price of $40.60.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. As a group, equities research analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TechnipFMC

Hedge funds have recently made changes to their positions in the business. Focus Partners Wealth lifted its stake in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after acquiring an additional 5,161 shares during the period. Geneos Wealth Management Inc. lifted 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 buying an additional 340 shares during the period. Sivia Capital Partners LLC boosted its stake in TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after acquiring an additional 6,381 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of TechnipFMC by 35.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 119,170 shares of the oil and gas company’s stock worth $4,159,000 after purchasing an additional 31,069 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of TechnipFMC by 24.1% in the second quarter. Farther Finance Advisors LLC now owns 3,548 shares of the oil and gas company’s stock worth $122,000 after acquiring an additional 689 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.