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
Baptiste Lebacq ...
  • Jean-François Granjon

ODDO : Enfin de la lumière au bout du tunnel

Alors que le secteur commençait à peine à sortir de la crise précédente (initiée fin 2014), il a dû faire face, en 2020, à un choc jusqu’ici inconnu ! Après une période de chaos et d’ajustement drastique du côté des pétroliers, nous pensons que la situation se normalise laissant ainsi augurer d’une accélération des décisions finales d’investissements chez les clients et in extenso des prises de commandes, permettant ainsi d’anticiper un newsflow positif et un rerating du secteur....

Baptiste Lebacq ...
  • Jean-François Granjon

ODDO : At last some light at the end of the tunnel

With the sector only just emerging from the previous crisis (initiated at end-2014), in 2020 it was faced with yet another unprecedented shock! After a period of chaos and a radical adjustment on the part of oil companies, we think that the situation is normalising thus suggesting an acceleration in final investment decisions (FIDs) at clients with the resulting acceleration in order intake, meaning that positive newsflow and a re-rating in the sector may be anticipated. Subsea7 ...

Baptiste Lebacq

TechnipFMC : Play a reduction in the discount via the official announcement of the spin off

>Buy maintained, target price raised to € 11.5 to play the narrowing of the discount - TechnipFMC has just announced the resumption of its spin-off operation which aims to create two separate leaders in their respective markets: TechnipFMC, a fully integrated technology and services group, and Technip Energies, a leader in the engineering and technology sector. With this operation we think that the currently strong discount of close to 50% vs a traditional sum-of-the-...

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.

Baptiste Lebacq ...
  • Jean-François Granjon

ODDO : Enfin de la lumière au bout du tunnel

Alors que le secteur commençait à peine à sortir de la crise précédente (initiée fin 2014), il a dû faire face, en 2020, à un choc jusqu’ici inconnu ! Après une période de chaos et d’ajustement drastique du côté des pétroliers, nous pensons que la situation se normalise laissant ainsi augurer d’une accélération des décisions finales d’investissements chez les clients et in extenso des prises de commandes, permettant ainsi d’anticiper un newsflow positif et un rerating du secteur....

Baptiste Lebacq ...
  • Jean-François Granjon

ODDO : At last some light at the end of the tunnel

With the sector only just emerging from the previous crisis (initiated at end-2014), in 2020 it was faced with yet another unprecedented shock! After a period of chaos and a radical adjustment on the part of oil companies, we think that the situation is normalising thus suggesting an acceleration in final investment decisions (FIDs) at clients with the resulting acceleration in order intake, meaning that positive newsflow and a re-rating in the sector may be anticipated. Subsea7 ...

Baptiste Lebacq

TechnipFMC : Play a reduction in the discount via the official announcement of the spin off

>Buy maintained, target price raised to € 11.5 to play the narrowing of the discount - TechnipFMC has just announced the resumption of its spin-off operation which aims to create two separate leaders in their respective markets: TechnipFMC, a fully integrated technology and services group, and Technip Energies, a leader in the engineering and technology sector. With this operation we think that the currently strong discount of close to 50% vs a traditional sum-of-the-...

Baptiste Lebacq

TechnipFMC : Parier sur le comblement de la décote via l’officialisation du spin off

>Achat maintenu, OC relevé à 11.5 € pour jouer le comblement de la décote - TechnipFMC vient d’annoncer la reprise de son opération de spin off visant à créer 2 leaders distincts sur leurs marchés respectifs : TechnipFMC, une société de technologie et de services pleinement intégrée, et Technip Energies, un leader du secteur de l’ingénierie et de la technologie. Nous pensons que via cette opération, la forte décote actuelle de près de 50% vs une somme des parties trad...

Baptiste Lebacq ...
  • Philippe Ourpatian

ODDO : Notable acceleration in the offshore wind power market

In our sector report of 4 May 2020 “Are we headed for value convergence in offshore wind?” (access to the report), we highlighted the significant size of the main offshore wind power markets, the growth potential for integrated electricity producers and the potential for the translation of value added towards other industry players (equipment manufacturers and oil services). Since then, there has been a sharp acceleration with targets increased in certain countries (cf. the UK), ...

Jehanne Leroy

TECHNIPFMC PLC - Assemblée Générale du 24 avril 2020

RémunérationsAu titre de 2019, la rémunération totale de M. Pferdehirt s’élève à 13 690 820 €, soit 656 SMICs, 332% de la médiane du CAC 40 et 298% de la médiane du secteur Oil & Gas du MSCI Europe. Cette rémunération présente une hausse de 17,3% par rapport à sa rémunération 2018 alors que la société accuse une perte nette part du groupe de 2,5 Mds$. Depuis 2016, et la fusion destructrice de valeur entre Technip et FMC, le cours a accusé une chute de 42% alors que les rémunérations de M. Pferdehirt ont augmenté de 21%. Cette situation est inacceptable et nous recommandons l’opposition non seu...

Expert Corporate Governance Service (ECGS)

TechnipFMC – AGM 24 April 2020

ITEMS 1a and 3: For 2019, Mr. Pferdehirt's total compensation amounts to €13,690,820, i.e. 332% of the median of the CAC 40 and 298% of the median of the Oil & Gas sector of the MSCI Europe.  This represents an increase of 17.3% compared to his 2018 compensation, while the company has a net loss (group share) of $2.5 billion. Since 2016, and the value-destroying merger between Technip and FMC, the share price has fallen by 42% while Mr. Pferdehirt's compensation has increased by 21%. This situation is unacceptable and we recommend opposition not only to the renewal of Mr. Pferdehirt, but also...

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...

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

An increasingly favourable environment allows TECHNIPFMC PLC to improve to Neutral

The independent financial analyst theScreener just upgraded the general evaluation of TECHNIPFMC PLC (FR), a company active in the Oil Equipment & Services industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains as risky. theScreener believes, however, that a more enabling environment allows the title to increase its general evaluation to Neutral. As of the analysis date December 11, 2020, the closing price was EUR 7.95 and its expected value was estimated at EUR 6.76.

Ford Equity US Rating and Forecast Report

Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.

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