|Bid||0.00 x 900|
|Ask||23.30 x 3000|
|Day's Range||20.06 - 21.25|
|52 Week Range||20.06 - 35.00|
|Beta (3Y Monthly)||0.58|
|PE Ratio (TTM)||50.86|
|Earnings Date||Feb 14, 2017 - Feb 20, 2017|
|Forward Dividend & Yield||0.52 (2.48%)|
|1y Target Est||32.98|
Futures rose 2.8 percent in New York on Thursday. The Saudi state-controlled oil company has warned U.S. refiners to brace for a steep drop in cargoes next month, according to people briefed on its plans. Prices also were supported by a report of a large drop in stockpiles at the U.S. storage hub in Oklahoma, as well as an International Energy Agency warning that global supplies may be more fragile than previously thought.
In addition to boosting the repurchase program, TechnipFMC (FTI) also outlines its financial guidance and capex budget for 2019.
Investing in small cap stocks has historically been a way to outperform the market, as small cap companies typically grow faster on average than the blue chips. That outperformance comes with a price, however, as there are occasional periods of higher volatility. The one and a half month time period since the end of the […]
TechnipFMC plc (“TechnipFMC”) (FTI) (FTI) (ISIN:GB00BDSFG982) announces that its Board of Directors has approved an additional $300 million share repurchase program (the “Share Repurchase Program”) to be implemented through open market purchases. The Share Repurchase Program will be implemented in accordance with the authorization granted by TechnipFMC’s shareholder on January 11, 2017, which remains valid until January 11, 2022. Under the Share Repurchase Program, TechnipFMC is authorized to repurchase up to $300 million of its ordinary shares, which as of December 11, 2018, represents a maximum of 14,570,179 shares based on the NYSE closing share price on such date.
While the company's guidance and backlog raise optimism about TechnipFMC (FTI), we are not certain if the company can turnaround soon.
First Eagle Investment Management, The Vanguard Group, and State Street Global Advisors are the top three investors in TechnipFMC (FTI). The three own 7.2%, 6.2%, and 5.7%, respectively, of the company’s outstanding shares. Together, the top ten investors own 40.1% of TechnipFMC’s outstanding shares.
The Vanguard Group, Dodge & Cox, and First Eagle Investment Management are the top three institutional investors in National Oilwell Varco (NOV). The three own 10.6%, 7.0%, and 6.6% of NOV’s outstanding shares. Together, the top ten investors in NOV own 51.4% of its outstanding shares.
Scottish marine salvage group Ardent is adapting the tanksit used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms. It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms. In Britain's ageing oil fields alone, the opportunities could be worth up to 17 billion pounds before 2025, according to industry body Oil and Gas UK.
Scottish marine salvage group Ardent is adapting the tanks it used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms. It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms. In Britain's ageing oil fields alone, the opportunities could be worth up to 17 billion pounds before 2025, according to industry body Oil and Gas UK.
As we discussed in the first part of this series, Helmerich & Payne (HP) has the lowest upside potential among the oilfield services stocks that we’re discussing in this series. Based on the mean target price, Helmerich & Payne has an upside potential of ~22% compared to an upside potential of more than 50% for Halliburton (HAL), TechnipFMC (FTI), Baker Hughes (BHGE), and Schlumberger (SLB)—based on their respective mean target prices. Among the 27 analysts surveyed by Reuters covering Helmerich & Payne, four rated it as a “strong buy,” six rated it as a “buy,” ten rated it as a “hold,” six rated it as a “sell,” and one rated it as a “strong sell.” The mean target price for Helmerich & Payne is $70.7, which implies an upside potential of ~22% from its current price.
So far, National Oilwell Varco (NOV) has outperformed its peers in 2018. The stock has fallen ~11% year-to-date. In comparison, Schlumberger (SLB), Haliburton (HAL), and TechnipFMC (FTI) have fallen ~32%, 35%, and 26%, respectively, during the same period. Among the 29 analysts surveyed by Reuters covering National Oilwell Varco, three analysts rated it as a “strong buy,” seven rated it as a “buy,” 17 rated it as a “hold,” and two rated it as a “sell.”
In this series, we’re discussing analysts’ recommendations for oilfield services stocks. So far, we’ve discussed analysts’ recommendations for Halliburton (HAL), TechnipFMC (FTI), and Baker Hughes (BHGE). Among the 36 analysts surveyed by Reuters covering Schlumberger (SLB), seven rated it as a “strong buy,” 15 rated it as a “buy,” 13 rated it as a “hold,” and one rated it as a “sell.”
On November 13, Baker Hughes (BHGE) and General Electric (GE) announced agreements aimed at accelerating the planned separation of the two companies. General Electric announced a secondary offering of 92 million Baker Hughes common shares at a price of $23 per share. Baker Hughes will also repurchase 65 million shares from General Electric. The agreements will bring down General Electric’s stake in Baker Hughes from the current 62.5% to over 50%.
Among the analysts surveyed by Reuters covering TechnipFMC (FTI), 72% rated it as a “buy.” TechnipFMC has the most “buy” ratings after Halliburton (HAL), which we discussed in the previous part of this series. Among the analysts, 16% of the analysts rated TechnipFMC as a “hold,” while 12% rated it as a “sell.” The mean target price for TechnipFMC is $35.7, which implies an upside potential of 52% from its current price of $23.5.
Among the oilfield services stocks that we’re discussing in this series, Halliburton (HAL) got the most “buy” recommendations from the analysts surveyed by Reuters. Among the 36 analysts covering Halliburton, 13 rated it as a “strong buy,” 17 rated it as a “buy,” five rated it as a “hold,” and one rated it as a “sell.” The mean target price for Halliburton is $49.2, which implies a massive upside potential of 52% from its current price of $32.3. The above graph shows how analysts’ rating and mean target price for Halliburton changed over 12 months.
Oilfield services stocks have mainly been weak in 2018. The stocks fell significantly in the past month. The VanEck Vectors Oil Services ETF (OIH) has hit a 15-year low. Top oilfield services stocks Schlumberger (SLB), Haliburton (HAL), and TechnipFMC (FTI) hit new 52-week lows on November 13. The three stocks have fallen 32%, 35%, and 26%, respectively, YTD (year-to-date).
TechnipFMC (FTI) signs a Surface Technologies Frame deal with Chevron for catering to the latter's North America operations.
TechnipFMC (FTI) (FTI) (ISIN:GB00BDSFG982) has signed a Surface Technologies Frame Agreement with Chevron. This 5-year agreement covers the exclusive supply of surface wellhead equipment and service in the United States and Canada. Richard Alabaster, President of TechnipFMC’s Surface Technologies business, commented: “We are very pleased to extend our partnership with Chevron and to support their development program in North America.
NEW YORK, Nov. 08, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
TechnipFMC (FTI) (FTI) (ISIN:GB00BDSFG982) has signed a major(1) Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt. This EPC contract covers the debottlenecking of existing units as well as the delivery of new units including a Crude Distillation Unit, a Vacuum Distillation Unit, a hydrogen production facility based on our steam reforming technology, as well as various process units, interconnecting, offsites and utilities. Nello Uccelletti, President of TechnipFMC’s Onshore/Offshore business, stated: “This award demonstrates our long-standing relationship with MIDOR which started in 2001, with the delivery of their grassroot refinery.
On an encouraging note, TechnipFMC's (FTI) total backlog at the end of the third quarter is around $15.2 billion, reflecting year-over-year growth of 9%.
National Oilwell Varco (NOV) reported its third-quarter earnings on October 25 after the markets closed. The company’s reported EPS of $0.00 missed analysts’ estimates of $0.12 for the quarter. NOV’s EPS in Q3 2017 was -$0.07. National Oilwell Varco also missed its Q3 revenue estimates by 2.5%. The stock fell 5.4% in after-hours trading.