|Bid||24.74 x 800|
|Ask||24.76 x 3100|
|Day's Range||24.70 - 25.01|
|52 Week Range||18.20 - 33.60|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 14, 2017 - Feb 20, 2017|
|Forward Dividend & Yield||0.52 (2.10%)|
|1y Target Est||29.90|
JP Morgan has just held its fourth annual Energy Conference in New York with ~140 energy companies participating. It hasn’t been an easy time for energy stocks recently, and the firm noted: “The conference boosted our confidence that the leading companies are taking the austerity mantle seriously.” Nonetheless, there are some gems to be found- if you know where to look.Luckily for investors, following the conference, the firm revealed its top energy stock picks to buy now. Here we take a closer look at three of the most intriguing stocks highlighted by the firm. Note that two of these stocks also boast a ‘Strong Buy’ consensus from the Street. That’s based on all the ratings received by these stocks over the last three months. TechnipFMC PLC (FTI)With operations spanning 48 countries, TechnipFMC is a global oil and gas company that provides complete project life cycle services. Essentially, FTI covers three distinct segments: subsea, offshore/ onshore and surface projects. After a disappointing 2018, shares have rallied so far this year- rewarding investors with a 27% gain year-to-date. According to JP Morgan “LNG [liquid natural gas] continues to look like the one proper cycle to which investors should have exposure, and though options in our coverage are limited, we came away from the conference with incremental confidence in our OW FTI call.” And as the firm added, it helps when a +$1bn award hits mid-event! On June 18 Anadarko Petroleum (APC) awarded Technip a number of subsea contracts for its Mozambique Golfinho/Atum development. This will be Mozambique’s first onshore LNG development, and FTI will now also open a new office in Mozambique to manage the operation. Indeed, the future appears bright for Technip stock. That's thanks to the company's unique integrated model. The company reduces costs for customers by optimizing subsea architecture and integrating execution (i.e. engineering, procurement, construction, and installation.)“E&P openness to new commercial models for offshore is accelerating, and FTI appears a primary beneficiary” says JP Morgan. “With BHGE highlighting its Subsea Connect and SLB doing the same for the Subsea Integrated Alliance, it’s clear to us the market is moving towards FTI’s integrated model.”Net-net, “TechnipFMC continues to stand out to us as the provider both growing the pie and taking a bigger slice” concludes the firm. Indeed, FTI boasts a ‘Strong Buy’ Street consensus, with 9 recent buy ratings vs just 1 hold rating. Meanwhile the $29 average analyst price target indicates upside potential of 19% from current levels. View FTI Price Target & Analyst Ratings Detail Halliburton (HAL)One of the world's largest oil field service companies, Halliburton sums up its operations as helping customers maximize value throughout the lifecycle of the reservoir. However, that strategy has not delivered much value for investors in recent years. Right now HAL is trading down 14% year-to-date, and that’s on the back of further losses in both 2017 and 2018.Not that this has deterred JP Morgan. The firm writes “Shares of HAL have come under fire (alongside the group) as buy side concerns grow regarding its ability to deliver on the Street’s 2H19 bar. After giving back -27% since 4/17, it appears to us much of the impact of a shortfall in 4Q19 C&P [completion and production] is already reflected in the stock.”And the firm reminds investors why Halliburton deserves a closer look: “We continue to view HAL as relatively unique among our large cap stocks for its potential to create a step-change in FCF generation in 2020 through modestly higher profitability and measured capital spending.” As a result, the firm reiterates its top pick status for HAL stock. That’s with a $34 price target (49% upside potential). In short, this is the largest and most liquid US completions-levered stock, and effectively the only remaining OFS (oilfield services) pure play large cap says JP Morgan. Clearly the rest of the Street agrees. We can see that HAL shows a ‘Strong Buy’ analyst consensus. In the last three months, the stock has received 6 buy ratings and just 1 hold rating. With shares down 50% in the last year, the average analyst price target now suggests upside potential of over 75%. View HAL Price Target & Analyst Ratings Detail MRC Global (MRC)Welcome to JP Morgan’s third top energy stock pick. If you haven’t heard of MRC Global before, this is a company that distributes pipe, valve and fitting (PVF), products to the energy and industrial markets. "The continued commitment to discipline on working capital management and buying back shares keep MRC standing out within our smid-caps" explained JP Morgan post-conference.Indeed, shares have performed strongly so far this year, recording an impressive 30% gain year-to-date. The company rallied following better-than-expected Q1 earnings. MRC revealed that it expects sales in Q2 to improve over Q1 by 6% to 9% and expects growth in the second half of the year as compared to the first half of the year.“As the leading distributor of PVF to the energy industry, we are well-positioned with our customers. We're typically the large players in each of our diversified end-market sectors. This diversification provides us with a certain level of stability, gives us more opportunities to grow and provide some resilience to the inherent market changes” says CEO Andrew Lane.However only two other analysts have recently published MRC ratings- and both these analysts rate the stock a ‘Hold.’ Stifel Nicolaus analyst Nathan Jones downgraded MRC a couple of months ago, citing valuation. Nonetheless his $20 price target still indicates 25% upside potential from the current share price. Find further investing inspiration with the Analysts' Top Stocks tool
TechnipFMC PLC’s (NYSE: FTI) top executive thinks his company — which has a major presence in Houston — has a lot of opportunity in the liquefied natural gas business, but he is hesitant about projects along the U.S. Gulf Coast. The industrial construction and technology firm expects to keep moving forward on about three to five LNG projects at a time around the world, but CEO Doug Pferdehirt said he is wary of risks associated with the construction of those projects on the Gulf Coast. Pferdehirt was speaking June 19 at the JP Morgan Energy Conference in New York.
TechnipFMC (FTI) plans to carry out installation works for the Mozambique Golfinho/Atum development with its consortium partner, Van Oord.
However, if Occidental Petroleum's acquisition of Anadarko closes, the Mozambique assets are among those that will be sold to Paris-based Total.
TechnipFMC (FTI) (FTI) has been awarded a number of subsea contracts by Anadarko Moçambique Área 1, Lda, a wholly owned subsidiary of Anadarko Petroleum Corporation, for its Mozambique Golfinho/Atum development. TechnipFMC was awarded a major(1) Contract for the Engineering, Procurement, Construction and Installation (EPCI) of the subsea hardware system through its wholly owned UAE incorporated subsidiary, Technip Middle East FZCO. TechnipFMC will execute the offshore installation scope with its consortium partner Van Oord, through their wholly owned UAE incorporated subsidiary, Van Oord Gulf FZE, and in cooperation with strategic major subcontractor, Allseas.
"Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% differential (up 52% for value vs up 174% for growth). This appears to be the longest and most severe drought for value […]
Every investor in TechnipFMC plc (NYSE:FTI) should be aware of the most powerful shareholder groups. Institutions...
FMC Technologies (FTI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Russia's largest private gas producer Novatek said on Monday that its joint venture Arctic LNG 2 and TechnipFMC have agreed construction of a liquefied natural gas plant. The contract terms provide for ...
TechnipFMC (FTI) (FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by BP for the Thunder Horse South Expansion 2 Project located in the Gulf of Mexico. TechnipFMC will manufacture, deliver and install subsea equipment, including subsea tree systems, manifolds, flowline, umbilicals and subsea tree jumpers, pipeline end terminations, subsea distribution and topside control equipment. This is the second iEPCI™ awarded to TechnipFMC by BP following Atlantis Phase 3 in the first quarter of 2019.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of TechnipFMC plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
TechnipFMC's (FTI) total backlog at the end of the first quarter is $17,777.6 million, reflecting year-over-year growth of 27%.