TechnipFMC (NYSE:FTI) Hits New 12-Month High – Still a Buy?

TechnipFMC plc (NYSE:FTI)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $30.01 and last traded at $29.89, with a volume of 1385981 shares trading hands. The stock had previously closed at $29.00.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FTI shares. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays upped their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Citigroup lifted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets boosted their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Price Performance

The firm’s 50 day moving average price is $27.10 and its two-hundred day moving average price is $26.48. The stock has a market cap of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, research analysts expect that TechnipFMC plc will post 1.56 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

TechnipFMC announced that its board has authorized a share buyback program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of TechnipFMC during the 3rd quarter valued at about $30,000. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the last quarter. ORG Partners LLC purchased a new position in shares of TechnipFMC during the second quarter worth about $33,000. Finally, Crewe Advisors LLC purchased a new stake in TechnipFMC in the second quarter valued at approximately $51,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.