TechnipFMC (NYSE:FTI) Reaches New 52-Week High - Here's What Happened

TechnipFMC plc (NYSE:FTI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $35.76 and last traded at $35.22, with a volume of 5166 shares trading hands. The stock had previously closed at $35.15.

Analyst Upgrades and Downgrades

FTI has been the subject of several research analyst reports. Barclays lifted their target price on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Susquehanna decreased their price objective on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada restated an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.46.

TechnipFMC Trading Down 2.9%

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.84. The company has a market capitalization of $14.31 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.21 and a beta of 1.06. The business's 50-day moving average price is $30.25 and its two-hundred day moving average price is $29.79.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. TechnipFMC's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. Research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.59%. TechnipFMC's payout ratio is 10.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FTI. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC in the 1st quarter valued at approximately $33,000. Geneos Wealth Management Inc. grew its stake in shares of 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. Smartleaf Asset Management LLC increased its holdings in shares of TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after buying an additional 525 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of TechnipFMC during the fourth quarter worth $46,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of TechnipFMC by 29.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after acquiring an additional 346 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

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.