TechnipFMC (NYSE:FTI) Stock Breaks Above 200 Day Moving Average - Should You Sell?

Key Points

• TechnipFMC shares moved above their 200-day moving average of $71.78, reaching $72.21 before last trading at $70.39. Despite the technical breakout, the stock remains below its 50-day average of $74.03.
• Analyst sentiment is broadly positive, with 12 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $72.08. Recent targets range from $85 at Citigroup to $85 at Susquehanna, while some firms downgraded or reduced their ratings.
• The company reported stronger-than-expected quarterly results, with EPS of $0.91 versus an $0.80 estimate and revenue of $2.76 billion, up 9% year over year. TechnipFMC also pays a $0.05 quarterly dividend, while institutional investors own 96.58% of its shares.

TechnipFMC plc (NYSE:FTI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $71.78 and traded as high as $72.21. TechnipFMC shares last traded at $70.3850, with a volume of 3,295,767 shares traded.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Citigroup increased their target price on TechnipFMC from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, September 15th. Weiss Ratings lowered shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday. Finally, Susquehanna reduced their price target on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.08.

TechnipFMC Price Performance

The firm has a market capitalization of $27.60 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 1.36 and a beta of 0.83. The firm has a 50 day moving average price of $74.03 and a 200-day moving average price of $71.78. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company's quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 3.2 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's payout ratio is 6.94%.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins purchased 6,365 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thierry Conti sold 6,000 shares of the company's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the transaction, the insider owned 85,813 shares in the company, valued at $6,165,664.05. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $3,081,514,000. Amundi grew its position in TechnipFMC by 72.6% in the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company's stock valued at $288,943,000 after acquiring an additional 1,832,581 shares during the last quarter. Bank of America Corp DE bought a new position in TechnipFMC in the 2nd quarter valued at $226,069,000. Bank of New York Mellon Corp increased its stake in TechnipFMC by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company's stock worth $199,011,000 after purchasing an additional 194,799 shares during the period. Finally, Danske Bank A S purchased a new stake in TechnipFMC in the second quarter worth $163,822,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company's Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.

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