TechnipFMC Target of Unusually High Options Trading (NYSE:FTI)

Key Points

• Unusually high options activity: Investors purchased 12,785 TechnipFMC call options, more than 2,000% above the typical daily volume of 589 contracts.
• Analysts remain broadly positive: Thirteen analysts rate the stock a Buy and three rate it a Hold, producing a consensus “Moderate Buy” rating and a $69.64 price target.
• Strong quarterly results: TechnipFMC reported $0.91 in quarterly EPS and $2.76 billion in revenue, beating estimates and marking 9% year-over-year revenue growth; it also declared a $0.05 quarterly dividend.

TechnipFMC plc (NYSE:FTI - Get Free Report) saw some unusual options trading activity on Friday. Investors purchased 12,785 call options on the stock. This is an increase of 2,071% compared to the typical daily volume of 589 call options.

Analyst Ratings Changes

Several equities analysts have commented on FTI shares. Royal Bank Of Canada increased their target price on TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Evercore restated an "outperform" rating and issued a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Finally, Weiss Ratings cut shares of TechnipFMC from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded up $1.99 during mid-day trading on Friday, hitting $78.66. 509,242 shares of the stock were exchanged, compared to its average volume of 4,226,026. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The company has a market capitalization of $30.85 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.56 and a beta of 0.72. The company has a 50-day simple moving average of $70.06 and a 200 day simple moving average of $68.34. TechnipFMC has a 12 month low of $34.27 and a 12 month high of $78.75.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm's quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC will post 3.05 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC's dividend payout ratio is presently 6.94%.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of TechnipFMC in the first quarter worth $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the 3rd quarter worth $32,000. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Ascentis Independent Advisors purchased a new position in TechnipFMC in the first quarter worth $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in TechnipFMC during the second quarter valued at about $37,000. 96.58% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source