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

Shares of TechnipFMC plc (NYSE:FTI) hit a new 52-week high on Tuesday . The company traded as high as $43.90 and last traded at $43.6830, with a volume of 2876909 shares traded. The stock had previously closed at $42.85.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays upped their target price on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Jefferies Financial Group upped their price objective on TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. BNP Paribas set a $47.00 target price on shares of TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Piper Sandler raised their price target on shares of TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $45.36.

TechnipFMC Stock Performance

The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.20 and a beta of 1.00. The company’s fifty day simple moving average is $39.46 and its two-hundred day simple moving average is $35.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. On average, analysts forecast 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 will be paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. TechnipFMC’s payout ratio is presently 8.93%.

TechnipFMC announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at TechnipFMC

In other news, insider Thierry Conti sold 50,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.64, for a total value of $1,932,000.00. Following the completion of the sale, the insider owned 56,352 shares in the company, valued at $2,177,441.28. This represents a 47.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alf Melin sold 113,760 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the sale, the chief financial officer owned 241,140 shares of the company’s stock, valued at approximately $9,310,415.40. This trade represents a 32.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 876,603 shares of company stock worth $33,832,588 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds have recently made changes to their positions in the business. Credit Agricole S A raised its position in shares of TechnipFMC by 170.3% during the 1st quarter. Credit Agricole S A now owns 94,097 shares of the oil and gas company’s stock valued at $2,982,000 after buying an additional 59,281 shares in the last quarter. OMNI 360 Wealth Inc. bought a new stake in TechnipFMC during the second quarter worth about $226,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of TechnipFMC by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,761,185 shares of the oil and gas company’s stock worth $119,192,000 after purchasing an additional 111,644 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of TechnipFMC in the 1st quarter worth about $1,056,000. Finally, Raymond James Financial Inc. raised its holdings in shares of TechnipFMC by 26.2% during the 1st quarter. Raymond James Financial Inc. now owns 399,126 shares of the oil and gas company’s stock valued at $12,648,000 after buying an additional 82,902 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

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.