TechnipFMC (NYSE:FTI) Reaches New 1-Year High - Here's Why

TechnipFMC plc (NYSE:FTI - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $35.79 and last traded at $35.31, with a volume of 213691 shares trading hands. The stock had previously closed at $35.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barclays lifted their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Susquehanna lifted their price objective on TechnipFMC from $35.00 to $40.00 and gave the stock a "positive" rating in a report on Tuesday, July 1st. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.31.

TechnipFMC Stock Performance

The firm has a fifty day simple moving average of $32.52 and a 200 day simple moving average of $30.25. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock has a market cap of $14.98 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.21 and a beta of 1.07.

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

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. TechnipFMC's payout ratio is presently 10.53%.

Hedge Funds Weigh In On TechnipFMC

Hedge funds have recently modified their holdings of the stock. Diversified Trust Co raised its stake in shares of TechnipFMC by 0.8% in the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company's stock valued at $1,406,000 after purchasing an additional 306 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of TechnipFMC by 45.3% in the 1st 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 during the period. Financial Network Wealth Advisors LLC increased its position in shares of TechnipFMC by 29.7% in the first 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. Diversify Advisory Services LLC increased its position in shares of TechnipFMC by 5.1% in the first quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company's stock valued at $238,000 after acquiring an additional 362 shares during the last quarter. Finally, Acuitas Investments LLC increased its position in shares of TechnipFMC by 13.4% in the first quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock valued at $108,000 after acquiring an additional 400 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

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.