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Technipfmc Plc(FTI-N)
NYSE

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Chart of the Day: TechnipFMC - May Be Overvalued?

Barchart - Mon Jul 10, 2023

The Chart of the Day belongs to the British oil field services company TechnipFMC (FTI)  .   I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 6/2 the stock gained 15.34%.

FTI Price vs Daily Moving Averages

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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. It provides subsea production and flexible pipe; subsea umbilicals, risers, and flowlines; vessels; and Subsea Studio for optimizing the development, execution, and operation of current and future subsea fields. This segment also offers well and asset services. The Surface Technologies segment designs, manufactures, and services products and systems used in land and shallow water exploration and production of crude oil and natural gas. This segment offers surface wellheads and production trees systems; iComplete, a pressure control system; fracturing tree and manifold systems; pressure pumping; safety and integrity systems, multiphase meter modules, in-line separation and processing systems, and standard pumps; well control and integrity systems, flowback and well testing services; skid systems; digital systems; and flow measurement and automation solutions. It also offers planning, testing and installation, commissioning, operations, replacement and upgrade, maintenance, storage, preservation, intervention, integrity, decommissioning, and abandonment; and supplies flexible lines and flowline products and services. TechnipFMC plc has a strategic alliance with Talos Energy Inc. to develop carbon transportation and storage services. The company was founded in 1884 and is based in Newcastle Upon Tyne, the United Kingdom.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

  • 100% technical buy signals
  • 139.60+ Weighted Alpha
  • 172.06% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 15.65% in the last month
  • Relative Strength Index 70.87%
  • Technical support level at $16.49
  • Recently traded at $17.14 with 50 day moving average of $14.51

Fundamental Factors:

  • Market Cap $7.57 billion
  • Revenue projected to grow by 12.20% this year and increase again by 13.80% next year
  • Earnings estimated to increase by 1,663.30% this year, and increase an additional 119.60% next year

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

  • Wall Street analyst gave14 strong buy, 6 buy and 2 hold opinions on the stock
  • Analysts price targets are between $8.50 and $23.00 -  with a consensus of $19 - an 8% gain
  • The individual investors on Motley Fool are high on the stock and voted 499 to 18 for the stock to beat the market with the more experienced investors voting 58 to45 for the same result
  • Value Line does not rank the stock but forecasts a price target between$6 - $19 with a midpoint of $12 for a 25% loss
  • CFRAs MarketScope rates it a sell
  • 10,720 investors monitor the stock on Seeking Alpha

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in  the next 72 hours.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.


 


On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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