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Wednesday, May 25, 2022

TechnipFMC plc. (FTI) Stock Declining in Aftermarket Despite Positive News for Company

TechnipFMC plc. (FTI), a company engaged in the oil and gas projects has declined 6.83% during the regular trading session and consequently is trading at $6 at the time of the writing. The stock has fallen despite the announcement of positive news by the company. On Monday, the stock closed the day at $6.44 after declining 0.62% during regular trading hours.


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FTI Awarded Contract

In the late hours of Monday, FTI announced that it has been awarded a subsea Engineering, Procurement, Construction, and Installation contract by Petrobras for its Búzios 6 field. Búzios 6 field is a greenfield development in the pre-salt area. The company further said that the contract covers umbilicals, pipeline end terminals, flexible and rigid pipe, umbilical termination assemblies, rigid jumpers, and a mooring system as well.

When Q42021 Results be Released?

On 20th January, FTI announced that it would release the fourth quarter of 2021 earnings results on 23rd of February 2022. The company said that it would host the webcast for the fourth quarter of 2021 earnings conference call on the 24th of February 2022. The company would make available an archived version of the webcast on its website after the event.

Option Agreement for Partnership

On 18th January, FTI announced that its partnership with Magnora ASA, namely Magnora Offshore Wind AS, had been offered the chance to enter into an Option Agreement for the N3 area by the Crown Estate Scotland in the ScotWind leasing round. The development as per the plan was to have a capacity of about 500 megawatts. Magnora Offshore Wind partnership combines TechnipFMC’s experience in the execution of large offshore projects with Magnora’s extensive project development expertise.

Future Outlook for FTI

Stats reveal that during the last three months, the FTI has declined by almost 16%, but the more recent ones suggest a positive trajectory for the company. Looking ahead, the analysts are holding a negative evaluation of the stock. Hence, investors should make a careful decision regarding their investments.

 

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