TechnipFMC (NYSE:FTI) Hits New 1-Year High – Should You Buy?

TechnipFMC plc (NYSE:FTI) hit a new 52-week high on Tuesday . The stock traded as high as $31.62 and last traded at $31.24, with a volume of 217538 shares. The stock had previously closed at $31.31.

Analysts Set New Price Targets

Several analysts have recently weighed in on FTI shares. Barclays lifted their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Citigroup increased their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. BMO Capital Markets increased their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Bank of America lifted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Price Performance

The firm has a market cap of $13.41 billion, a PE ratio of 20.74 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $27.69 and a two-hundred day moving average price of $26.66.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities analysts expect that TechnipFMC plc will post 1.58 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in TechnipFMC by 203.6% during 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 purchased a new position in TechnipFMC during the third quarter valued at $30,000. GAMMA Investing LLC lifted its stake in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 492 shares in the last quarter. ORG Partners LLC purchased a new stake in TechnipFMC during the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC acquired a new position in shares of TechnipFMC during the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.