TechnipFMC (NYSE:FTI) Sets New 12-Month High – Here’s What Happened

TechnipFMC plc (NYSE:FTI) reached a new 52-week high during trading on Friday . The company traded as high as $77.81 and last traded at $77.2540, with a volume of 153782 shares traded. The stock had previously closed at $76.02.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FTI shares. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 14th. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Piper Sandler increased their price objective on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Citigroup raised their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Royal Bank Of Canada boosted their target price on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Trading Up 1.5%

The company has a market cap of $30.76 billion, a PE ratio of 29.50, a PEG ratio of 1.58 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The company has a 50 day simple moving average of $69.42 and a two-hundred day simple moving average of $66.11.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares in the last quarter. Norges Bank bought a new stake in TechnipFMC in the fourth quarter worth approximately $205,468,000. Invesco Ltd. increased its stake in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after purchasing an additional 3,549,839 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of TechnipFMC by 46.2% during the 3rd quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company’s stock valued at $141,283,000 after purchasing an additional 1,132,216 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

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.