TechnipFMC

TechnipFMC is global leader in oil and gas projects, technologies, systems, and services. Co. offers subsea, surface, onshore, and offshore solutions for oil and gas projects. Co. serves customers worldwide. With Co.'s technologies and production systems, integrated expertise, and comprehensive solutions, Co. is transforming Co.'s clients' project economics. Co. is uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, Co.'s offering unlocks new possibilities for Co.'s clients in developing their oil and gas resources.
  • TickerTEC
  • ISINGB00BDSFG982
  • ExchangeEuronext Paris
  • SectorOil Equipment, Services & Distribution
  • CountryFrance

Analysts

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

Alfred Glaser ...
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/11/2020

2020 should be another very busy year for M&A in the IT & engineering services sector. The major themes will be Indra's disposal of its IT services business and Atos’ renewed interest in acquisitions, particularly in cybersecurity. Against this backdrop, Atos, Indra and Devoteam are our Top Picks. We are downgrading Sopra Steria and Capgemini to Neutral, and Reply and TietoEVRY to Reduce. - ...

Alfred Glaser ...
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/02/2020

L’année 2020 devrait rester très dynamique en termes de M&A sur le secteur IT & Engineering Services. Les thèmes majeurs seront la cession par Indra de son activité IT Services et le retour en appétit d’Atos, notamment dans la cybersécurité. Dans ce contexte, Atos, Indra et Devoteam sont nos top picks. Nous dégradons Sopra Steria et Capgemini à Neutre ; Reply, et TietoEVRY à Alléger. - ...

Baptiste Lebacq

TechnipFMC : FMC: market capitalisation too low = impairment charge of $ 2.4bn

>Reduce recommendation maintained with a target price of € 15.1 - The group which is preparing for a spin off in H1 2020 has just announced that it is to register impairments of $ 2.4bn (i.e. 32% of its current market capitalisation) essentially driven by its poor stock market performance (y-o-y performance -22.9%) and changes to the outlook in the North American market. In our recent study “2020: desensitisation to the US market …at the beginning of the year”, we not...

Baptiste Lebacq

TechnipFMC : FMC : Une trop Faible Market Cap = dépréciations de 2.4 Md$

>Opinion Alléger maintenue avec un OC de 15.1 € - Le groupe qui doit se « spin offer » sur le S1 2020 vient d’annoncer qu’il allait enregistrer des dépréciations de 2.4 Md$ (soit 32% de sa capitalisation boursière actuelle) en grande partie sous l’effet de l’évolution de sa mauvaise performance boursière (perf YoY -22.9%) et de changements de perspectives du marché nord-américain. Dans notre récente étude «2020: désensibilisation au marché US…en début d’année », nous ...

TechnipFMC plc: New Issuer

CORPORATES CREDIT OPINION 15 March 2017 Update RATINGS TechnipFMC plc Domicile United Kingdom Long Term Rating Baa2 Type LT Issuer Rating - Dom Curr Outlook Negative Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Amol Joshi, CFA 212-553-7267

Moody's rates TechnipFMC plc's notes Baa2; negative outlook

New York, March 03, 2017-- Moody's Investors Service assigned first time ratings to TechnipFMC plc, including a Baa2 issuer rating and a Baa2 rating to its existing EUR 450 million unsecured convertible bonds due 2021. Moody's also assigned a Baa2 rating to the proposed senior unsecured notes being issued by TechnipFMC in exchange for $800 million of existing FMC Technologies, Inc. senior notes. At the same time, Moody's affirmed FMC Technologies' P-2 commercial paper rating and...

FMC Technologies, Inc.: Merger benefits with Technip tempered by challenging industry conditions

CORPORATES ISSUER COMMENT 13 January 2017 RATINGS FMC Technologies, Inc. Long Term Rating Baa2 Outlook Negative Source: Moody's Investors Service Contacts Amol Joshi, CFA 212-553-7267 VP-Senior Analyst [email protected] Steven Wood 212-553-0591 MD-Corporate Finance [email protected] FMC Technologies, Inc. Merger benefits with Technip tempered by challenging

Baptiste Lebacq

TechnipFMC : FMC: market capitalisation too low = impairment charge of $ 2.4bn

>Reduce recommendation maintained with a target price of € 15.1 - The group which is preparing for a spin off in H1 2020 has just announced that it is to register impairments of $ 2.4bn (i.e. 32% of its current market capitalisation) essentially driven by its poor stock market performance (y-o-y performance -22.9%) and changes to the outlook in the North American market. In our recent study “2020: desensitisation to the US market …at the beginning of the year”, we not...

Baptiste Lebacq

TechnipFMC : FMC : Une trop Faible Market Cap = dépréciations de 2.4 Md$

>Opinion Alléger maintenue avec un OC de 15.1 € - Le groupe qui doit se « spin offer » sur le S1 2020 vient d’annoncer qu’il allait enregistrer des dépréciations de 2.4 Md$ (soit 32% de sa capitalisation boursière actuelle) en grande partie sous l’effet de l’évolution de sa mauvaise performance boursière (perf YoY -22.9%) et de changements de perspectives du marché nord-américain. Dans notre récente étude «2020: désensibilisation au marché US…en début d’année », nous ...

Martin Huseby Karlsen

EP cash flow its worst since 2016

With three more oil majors having reported Q4 results last week, our conclusion remains – Q4 cash flow was very weak, with a combined overspend of 29% despite the oil price averaging USD63/bbl (versus USD54/bbl currently). For 2019 the majors total overspending was 8% at an average oil price of USD64/bbl. For oil services we believe this hurt both investor sentiment and fundamentals, supporting our more muted view on E&P spending than consensus. 2019 marked a return to overspending for oil majors after generating positive cash flow in 2017–2018, which is a key focus point for investors. Also, ...

Martin Huseby Karlsen

Weak cash flow from oil majors

So far the majors have reported weak Q4 cash flow, with aggregated overspend of 33% from Shell, Exxon, Chevron, and BP (at an average oil price of USD63/bbl). For 2019, they overspent cash flow by 12%, after generating positive cash flow in 2017–2018. We still believe a sustained higher oil price (mid-USD60s/bbl+) is needed to support higher E&P spending. Hence, the recent oil price sell-off to the low USD50/bbl is not helpful and we expect to hear muted spending comments ahead. Also, we consider oil majors’ weak Q4 cash flow on the downside for the offshore oil services sector.

Baptiste Lebacq

ODDO : 2020: desensitisation to the US market …at the beginning of the year

2019 was marked by a real dichotomy between capex in the US under pressure following tighter financial discipline from E&P companies and business accelerating abroad. In our scenario of a stable oil price, we expect a continued recovery in international investment via offshore and increased discipline on the part of shale oil players. Once again, investment efforts should focus on production to the detriment of exploration. At the start of this year, our focus is on E&C (engineer...

Alfred Glaser ...
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/11/2020

2020 should be another very busy year for M&A in the IT & engineering services sector. The major themes will be Indra's disposal of its IT services business and Atos’ renewed interest in acquisitions, particularly in cybersecurity. Against this backdrop, Atos, Indra and Devoteam are our Top Picks. We are downgrading Sopra Steria and Capgemini to Neutral, and Reply and TietoEVRY to Reduce. - ...

Alfred Glaser ...
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Johanna Jourdain
  • Matthias Desmarais
  • Michael Foundoukidis
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/02/2020

L’année 2020 devrait rester très dynamique en termes de M&A sur le secteur IT & Engineering Services. Les thèmes majeurs seront la cession par Indra de son activité IT Services et le retour en appétit d’Atos, notamment dans la cybersécurité. Dans ce contexte, Atos, Indra et Devoteam sont nos top picks. Nous dégradons Sopra Steria et Capgemini à Neutre ; Reply, et TietoEVRY à Alléger. - ...

Aurelien Sivignon ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Salma Bouraoui
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 11/15/2019

...

Anis Zgaya ...
  • Baptiste Lebacq
  • Benoit Valleaux
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/15/2019

...

Aurelien Sivignon ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Salma Bouraoui
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 15/11/2019

...

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

ValuEngine Rating and Forecast Report for FTI

MarketLine Department

McDermott International, Inc. - Strategy, SWOT and Corporate Finance Report

Summary McDermott International, Inc. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights McDermott International, Inc. (McDermott or "the company") is a construction, procurement engineering and installation (EPCI) company focused on executing offshore oil and gas projects. The company provides EPCI services related to offshore fixed and floating production faciliti...

MarketLine Department

Schlumberger Limited - Strategy, SWOT and Corporate Finance Report

Summary Schlumberger Limited - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Schlumberger Limited (Schlumberger or 'the company') is a provider of technology for drilling, reservoir characterization, production, and processing technologies to the oil and gas industry. The company provides a range of products and services, from exploration through production, and ...

MarketLine Department

Forum Energy Technologies Inc - Strategy, SWOT and Corporate Finance Report

Forum Energy Technologies Inc - Strategy, SWOT and Corporate Finance Report Summary Forum Energy Technologies Inc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Forum Energy Technologies Inc (Forum) is an oilfield products company. It designs, manufactures, and distributes consumable products used in well construction, drilling, exploration, development, produ...

MarketLine Department

Schlumberger Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Schlumberger Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Schlumberger Limited since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage...

ICD Research Department

Forum Energy Technologies, Inc. : Oil and Gas - Company Profile, SWOT & Financial Analysis

Synopsis ICD Research's "Forum Energy Technologies, Inc. : Oil and Gas - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and services, SWOT analysis, business description, company history, financial analysis, mergers & acquisitions, recent developments, key employees, company locations and subsidiaries as well as competitive benchmarking data. Summary This report is a crucial resource for industry executives and anyone looking to access key information ...

Jehanne Leroy

TechnipFMC - Assemblée Générale du 1er mai 2019

Gouvernance Suite à l'annonce du départ de M. Pilenko, il a été décidé par le conseil de confier la présidence du conseil à M. Pferdehirt, qui est déjà Directeur général. Il sera donc PDG du Groupe post-AG. Or, cela rompt l'équilibre que la société présentait lors de la fusion dite "entre égaux" puisque M. Pferdehirt sera désormais seul à la tête du groupe. Le conseil comprendra post-AG 5 anciens administrateurs de Technip et 6 anciens administrateurs de FMC. Là encore, l'équilibre n'est pas trouvé et la balance penche en la faveur de FMC. De plus, à la date de rédaction de la présente étude, ...

Expert Corporate Governance Service (ECGS)

TechnipFMC - AGM 01 May 2019

Item 1a: Mr Pilenko (Chairman) announced in January 2019 that he will retire after this 2019 AGM. The Board decided to designate Mr Pferdehirt (CEO) as Chairman. When Technip and FMC merged, they presented the split of functions as a way to balance powers and it was supposed to represent the fact that it was a merger between equals. Now that Mr Pferdehirt will be Chairman and CEO, there is no more balance and Technip and FMC do not seem to be equal anymore. Moreover the Board will comprise 5 ex Technip directors and 6 ex FMC directors; there again, there is no more balance. Finally, the execut...

TechnipFMC – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 14/06/2018

This is the first AGM of the Company since the merger between Technip and FMC in 2016. The post-merge board, which will remain the same until the 2019 AGM, comprises only 43% of independent members and 21% of women while Technip’s board before the merger had 75% of independent member and 42% of women. We regret these declines in fair governance. We also regret that, as the company is no longer governed by French Law, items 2 and 3 on 2017 remunerations are only consultative (i.e. a rejection would have a limited impact). Likewise, item 4 proposes a vote on the remuneration policy for the 3 ...

Jehanne Leroy

Proxy Report - 14/06/2018

Cette assemblée est la première depuis la fusion de Technip avec FMC, la société n'ayant pas convoqué d'assemblée générale en 2017. Le conseil post-fusion, qui restera en place jusqu'à l'Assemblée de 2019, ne comprend que 43% d'administrateurs libres de tout conflit d'intérêts et 21% de femmes alors que le conseil de Technip avant la fusion comprenait 75% d'administrateurs libres de tout conflit d'intérêts et 42% de femmes. On regrettera ces reculs de le bonne gouvernance. On regrettera aussi le fait que, la société n'étant plus de droit français, les résolutions 2 et 3 proposant un vote sur...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

Dave Nicoski ...
  • Ross LaDuke

Vital Signs: Actionable charts

Key Points: • Gold is staging a massive breakout above the $1360 level. Major H&S bottoms can be seen across the group (ex, NEM, RGLD) • Energy related names are attempting to carve out reversals. We prefer the names that held up well during the Crude oil decline. (ex. HLX, PUMP, FTI, CKH, PSX) • A number of Biotech names are breaking out of bases and reflect RS leadership. (ex. OMCL, RGEN, INCY, and ANIP)

Dave Nicoski ...
  • Ross LaDuke

Vital Signs: Actionable charts

Key Points: • A number of restaurant stocks are breaking topside bases and remain RS leadership. • Energy stocks continue to turn in dismal performance as major uptrends are broken and RS remains very weak. • Automotive parts retailers remain attractive as consumers look to repair their cars rather than buy new ones.

Matthieu DRIOL

Short term view - TECHNIPFMC PLC : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €22.80, then €21.90. Passing €28.47 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - TECHNIPFMC PLC : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 22,80 €, puis 21,90 €. Le franchissement de 28,47 € remettrait en cause la suite de la baisse.

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