TechnipFMC stock shot up more than 4% early Wednesday on prospects of more opportunities for oil and gas companies after Donald Trump won a second term as president. Reflecting its raised prospects, the Relative Strength (RS) Rating for TechnipFMC stock climbed to 72, upgraded from 69 the day before.
The gain came amid a lift for the energy sector Wednesday, as reported in Stock Market Today: "And the Energy Select Sector SPDR Fund (XLE) rose 3.4%" Wednesday afternoon.
TechnipFMC was in good shape even before Trump's election. Over the past four quarters the offshore oil rig services company reported surging earnings per share growth of 380%, 1,000%-plus, 330% and 205%. That came on revenue growth that ranged between 23% and 14%.
TechnipFMC Climbing Toward Fresh All-Time High?
TechnipFMC stock rose from a 12.64 low in early May 2023 to an all-time high in August. Wednesday afternoon it traded above 28, up about 6% for the day. FTI stock is working on a consolidation with a 29.85 buy point, its all-time high, set on Aug. 1. See if it can break out in volume at least 40% higher than normal.
The upgraded 72 RS Rating for U.K.-based TechnipFMC shows that its stock outperformed 72% of all stocks, regardless of industry group, this past year.
Among its other ratings FTI stock has an 82 EPS Rating out of 99. It's Composite Rating is milder at 79. It also holds a C Accumulation/Distribution Rating, showing that about as many funds are buying its shares as selling. Bullishly, the number of funds holding TechnipFMC rose from 837 in the June-ended quarter to 851 in September.
When To Sell Stocks To Lock In Profits And Minimize Losses
The company showed 205% EPS growth in its most recent report, to 64 cents per share. Sales increased 14% to $2.35 billion. Consensus of analysts polled by FactSet is for a 146% surge in EPS in the current quarter on a 10% rise in revenue.
Among Top 5 In Oil & Gas Industry Group
The company earns the No. 5 rank among its peers in the 19-stock Oil & Gas-Machinery/Equipment industry group. Chart Industries is the top-ranked stock in the group.
The exclusive Relative Strength Rating from Investor's Business Daily tracks price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves. See if TechnipFMC can continue to show renewed price strength and hit that benchmark.
Please follow James DeTar on X, formerly known as Twitter, @JimDeTar
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