TechnipFMC (NYSE:FTI) Sets New 1-Year High – Still a Buy?

TechnipFMC plc (NYSE:FTI)’s share price hit a new 52-week high on Monday . The stock traded as high as $68.00 and last traded at $67.9790, with a volume of 1619510 shares traded. The stock had previously closed at $66.31.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays reaffirmed an “overweight” rating and issued a $69.00 price target on shares of TechnipFMC in a research note on Friday, February 20th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the stock from $49.00 to $62.00 in a research note on Friday, February 20th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Finally, BMO Capital Markets increased their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $57.93.

TechnipFMC Stock Performance

The stock has a market cap of $27.13 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.26 and a beta of 0.70. The stock has a fifty day moving average of $54.51 and a 200-day moving average of $45.45. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

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

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is currently 8.66%.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the transaction, the director directly owned 97,860 shares in the company, valued at approximately $6,400,044. This trade represents a 6.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Several large investors have recently added to or reduced their stakes in FTI. Independent Advisor Alliance increased its stake in TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after acquiring an additional 184 shares during the last quarter. Personal CFO Solutions LLC grew its stake in TechnipFMC by 3.0% during the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 225 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in TechnipFMC by 5.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock valued at $235,000 after acquiring an additional 262 shares during the last quarter. Kestra Advisory Services LLC grew its stake in TechnipFMC by 2.8% in the fourth quarter. Kestra Advisory Services LLC now owns 11,353 shares of the oil and gas company’s stock worth $506,000 after purchasing an additional 305 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of 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 worth $35,000 after acquiring an additional 340 shares in the last quarter. 96.58% of the stock is currently 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.