TechnipFMC (NYSE:FTI) Reaches New 52-Week High – Should You Buy?

TechnipFMC plc (NYSE:FTI) shares reached a new 52-week high on Thursday . The stock traded as high as $80.55 and last traded at $77.0740, with a volume of 3037501 shares traded. The stock had previously closed at $78.29.

Analysts Set New Price Targets

FTI has been the topic of several recent analyst reports. Barclays lifted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Royal Bank Of Canada raised their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Stock Down 1.6%

The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $70.86 and its 200 day moving average price is $68.99. The company has a market capitalization of $30.23 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.61 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts predict that TechnipFMC plc will post 3.08 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Buying and Selling

In related news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction on Friday, August 14th. The shares were purchased 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 approximately $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

Several large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC during the 1st quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC in the third quarter valued at about $32,000. Geneos Wealth Management Inc. grew its stake 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 worth $35,000 after buying an additional 340 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC during the first quarter worth approximately $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of TechnipFMC during the second quarter worth approximately $37,000. Institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.