|Bid||7.01 x 3100|
|Ask||7.16 x 3200|
|Day's Range||6.78 - 7.09|
|52 Week Range||4.49 - 28.57|
|Beta (5Y Monthly)||2.24|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 29, 2020|
|Forward Dividend & Yield||0.13 (1.75%)|
|Ex-Dividend Date||Mar 23, 2020|
|1y Target Est||11.50|
Halliburton Company (NYSE: HAL) and TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) today introduced Odassea™, the first distributed acoustic sensing solution for subsea wells. The technology platform enables operators to execute intervention-less seismic imaging and reservoir diagnostics to reduce total cost of ownership while improving reservoir knowledge.
The contract with Assiut emphasizes TechnipFMC's (FTI) close liaison with the Egyptian petroleum sector and further boosts its capacity in delivering complex projects within the African country.
Shares in TechnipFMC (FTI) spiked 11% in Tuesday’s after-hours trading after the company announced a major Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt.TechnipFMC clarified that a “major” contract is over $1 billion.The contract covers new process units such as a Vacuum Distillation Unit, a Diesel Hydrocracking Unit, a Delayed Coker Unit, a Distillate Hydrotreating Unit as well as a Hydrogen Production Facility Unit using TechnipFMC’s steam reforming technology. The project also includes other process units, interconnecting, offsites and utilities.According to the statement, the plan is to transform lower-value petroleum products from Assiut Oil Refining Company’s (ASORC) nearby refinery into approximately 2.8 million tons per year of cleaner products, such as Euro 5 diesel.“This award demonstrates TechnipFMC’s long-standing relationship with the Egyptian petroleum sector and strengthens our expertise in the delivery of complex projects in the country” commented Catherine MacGregor, President of Technip Energies.She added: “Assiut is considered one of the major strategic projects needed to meet growing local demand for cleaner products, and we are extremely honored to have been selected by ANOPC to contribute to the largest refining project to be implemented in Upper Egypt.”TechnipFMC says it is currently working with ANOPC to complete the remaining conditions precedent so that the project can start.Shares in FTI have plunged 67% year-to-date, and analysts have a cautiously optimistic Moderate Buy consensus on the stock- with 10 recent buy ratings, 3 hold ratings and 1 sell rating. That’s with a $10 average analyst price target (40% upside potential). (See FTI stock analysis on TipRanks).On the bull side comes RBC Capital Kurt Hallead with a buy rating and $12 price target. “FTI offers an absolute and relative value proposition for investors who are willing to focus on mid-cycle earnings power post the COVID-19 and oil price collapse challenges” the analyst stated, noting that the company has a strong balance sheet and ample liquidity.Related News: Billionaire Buffett’s Energy Unit To Buy Dominion Energy Assets For $4B AMC Pops 12% In After-Market Amid Report Of New Restructuring Deal Sunrun To Buy Vivint Solar For About $1.46B In All-Stock Deal More recent articles from Smarter Analyst: * AMC Pops 12% In After-Market Amid Report Of New Restructuring Deal To Avert Bankruptcy * Synaptics Snaps Up AVGO Wireless IoT Rights; Analyst Upgrades Stock * DocuSign Buys Liveoak For $38M To Boost New Notary Offering * Uber Launching Grocery Delivery Service In Latin America, Canada, And US
TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has signed a major(1) Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt.
In this article we will check out the progression of hedge fund sentiment towards TechnipFMC plc (NYSE:FTI) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 […]
Antipodes Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Antipodes Global Fund posted a return of -5.3% for the quarter, outperforming its benchmark, the MSCI AC World Net Index which returned -9.7% in the same quarter. You should check out Antipodes Partners top 5 stock picks […]
FMC Technologies (FTI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Shares of oil-field services stocks Oceaneering International (NYSE: OII), Apergy (NYSE: APY), and TechnipFMC (NYSE: FTI) all jumped more than 30% in April, according to data provided by S&P Global Market Intelligence. Technip, which provides general services for oil producers, saw its share price rise 32.2% in April. Onshore drilling specialist Apergy's shares soared 60.2%, while the stock of subsea services provider Oceaneering International skyrocketed 74.8% for the month.
Russian investment group A-Property has hired energy services company TechnipFMC to design a $10 billion liquefied natural gas operation in the north of the country that it hopes to complete by 2025 and sell LNG to Asia. A-Property spokeswoman Anastasia Kharitonova told Reuters that the plant and surrounding infrastructure in the remote northern republic of Yakutia would require a $10 billion investment. The LNG plant will aim to produce 13 million tonnes of LNG per year at maximum capacity and will be located relatively close to the Chinese border.
Moody's Investors Service (Moody's) confirmed TechnipFMC plc's (TechnipFMC) Baa2 issuer rating. Moody's also confirmed the Baa2 rating on TechnipFMC's EUR 450 million unsecured convertible bonds due 2021 and $500 million senior unsecured notes due 2022.
NEW YORK, NY / ACCESSWIRE / April 23, 2020 / TechnipFMC Plc (NYSE:FTI) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 23, 2020 at 8:00 AM Eastern ...
Oil services company TechnipFMC <FTI.N> said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its dividend by 75% in search of savings to cushion the impact of the novel coronavirus outbreak. The Franco-American firm, whose clients include major companies in the oil and gas sector, said it had increased its cost savings target to more than $350 million this year from the $130 million it announced on April 1. It lowered executive compensation for the year, cutting the salary of its chairman and chief executive officer by 30%.
TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982) has been awarded a significant (1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Woodside Energy Limited for the development of the Lambert Deep and Phase 3 of the Greater Western Flank fields, located offshore Northwestern Australia.
TechnipFMC PLC (NYSE: FTI) has cut about a third of its spending plans for 2020, and it’s looking to reduce costs even beyond that. TechnipFMC, which has headquarters in Paris, London and Houston, has reduced its 2020 capital expenditure plan by $150 million, landing at $300 million, the company said in a press release.
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. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
The largest customers for Technip’s submersibles are in the oil and gas industry for exploration and maintenance operations.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
TechnipFMC PLC (NYSE: FTI) has decided to delay a much-anticipated deal that would split it into two companies on concerns about the ongoing global pandemic and other issues. The coronavirus outbreak, a sharp decline in oil prices and equity market volatility have materially changed the environment in which TechnipFMC would conduct the split, the company said in a March 15 press release. “The impacts of these events have created a market environment that is not currently conducive to the company’s planned separation into TechnipFMC and Technip Energies,” the company said.