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

Shares of TechnipFMC plc (NYSE:FTI - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $35.79 and last traded at $35.31, with a volume of 213691 shares traded. The stock had previously closed at $35.33.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup reiterated a "buy" rating on shares of TechnipFMC in a research report on Thursday. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Barclays upped their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Sanford C. Bernstein downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC has a consensus rating of "Moderate Buy" and an average target price of $36.85.

TechnipFMC Price Performance

The firm has a market capitalization of $14.72 billion, a PE ratio of 18.49, a P/E/G ratio of 1.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.07. The stock has a fifty day moving average price of $32.40 and a 200-day moving average price of $30.20.

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

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's payout ratio is presently 10.53%.

Institutional Trading of TechnipFMC

Institutional investors have recently made changes to their positions in the business. Avantax Advisory Services Inc. raised its holdings in shares of TechnipFMC by 24.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after buying an additional 4,314 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of TechnipFMC in the 4th quarter valued at $9,152,000. Jones Financial Companies Lllp raised its stake in TechnipFMC by 1,024.4% in the 4th quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company's stock worth $415,000 after acquiring an additional 13,071 shares during the last quarter. Farther Finance Advisors LLC lifted its position in TechnipFMC by 346.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after acquiring an additional 2,219 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in TechnipFMC by 8.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 88,101 shares of the oil and gas company's stock valued at $2,792,000 after purchasing an additional 6,947 shares during the last quarter. Institutional investors and hedge funds 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.