TechnipFMC (NYSE:FTI) Hits New 12-Month High - What's Next?

Key Points

• TechnipFMC hit a new 52-week high of $75.52 (last $75.10) on Monday with ~222,600 shares traded; the stock has a market cap of ~$30.1B and 50-/200-day moving averages of $65.26 and $51.78.
• Quarterly results beat on EPS—$0.70 vs. $0.51 expected—while revenue was $2.52B (slightly below estimates); the company reported a 9.7% net margin, 31.1% ROE, and analysts project FY EPS of $1.63.
• Analyst sentiment and insider activity are mixed: MarketBeat shows a consensus "Moderate Buy" with a $59.27 price target despite several raised targets, and insiders sold about 1.22M shares (~$75.8M) in the last quarter.

TechnipFMC plc (NYSE:FTI - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $75.52 and last traded at $75.0950, with a volume of 222604 shares traded. The stock had previously closed at $73.79.

Analyst Ratings Changes

FTI has been the topic of several research analyst reports. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Barclays reaffirmed an "overweight" rating and issued a $69.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. Susquehanna raised their price target on TechnipFMC from $82.00 to $83.00 and gave the company a "positive" rating in a research report on Tuesday, April 7th. Royal Bank Of Canada raised their price target on TechnipFMC from $47.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. Finally, BMO Capital Markets raised their price target on TechnipFMC from $52.00 to $67.00 and gave the company a "market perform" rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.27.

TechnipFMC Trading Up 1.6%

The stock has a market cap of $30.11 billion, a P/E ratio of 32.47, a PEG ratio of 1.36 and a beta of 0.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The business's 50 day simple moving average is $65.26 and its 200 day simple moving average is $51.78.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. On average, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is presently 8.66%.

Insider Activity at TechnipFMC

In other news, EVP Luana Duffe sold 47,951 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president owned 78,871 shares of the company's stock, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO David Light sold 6,622 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $413,411.46. Following the sale, the chief accounting officer directly owned 5,005 shares of the company's stock, valued at approximately $312,462.15. The trade was a 56.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. Insiders own 1.40% of the company's stock.

Institutional Trading of TechnipFMC

Hedge funds have recently modified their holdings of the company. Focus Partners Wealth increased its holdings in shares of TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock valued at $764,000 after purchasing an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock valued at $508,000 after purchasing an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock valued at $188,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Ossiam increased its holdings in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 546 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

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.

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