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TechnipFMC and Magma Global to Unite in a Strategic Alliance
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TechnipFMC plc (FTI - Free Report) recently agreed to the terms for jointly developing a new generation of hybrid flexible pipe (HFP) with Magma Global Ltd. This type of pipe will be used in offshore activities.
Per the deal, the oilfield service provider TechnipFMC will acquire a minority interest in Magma Global that produces high strength carbon fiber pipes.
Project Importance
The company expects the HFP to heighten performance and stress-bearing ability of subsea fluid transportations. It is also assumed to reduce cost and weight of the carriers, which in turn will increase efficiency. The HFP will be made keeping in mind the demand for composite subsea infrastructure that connects the seabed to the surface.
This is nothing new for TechnipFMC, a regular investor in technologies. The company has shown its technology leadership through Subsea 2.0. It is currently advancing on developing next-generation floating liquefied natural gas (FLNG).
TechnipFMC expects the deal to improve its Subsea 2.0 product platform. The cost-effective HFP solution will enable the company address offshore deepwater difficulties around the globe and help its clients. Moreover, the strategic collaboration with Magma Global is expected to put both the companies in leadership positions in their respective markets.
About TechnipFMC
London-based TechnipFMC is a leading manufacturer and supplier of technology solutions for the energy industry. The company, which reached its current form following the January 2017 merger between Technip and FMC Technologies, is engaged in the designing, producing and servicing of technologically sophisticated systems, and products for subsea, onshore/offshore, and surface projects. The company currently has more than 37,000 employees.
Price Performance
TechnipFMC has lost 8.3% in a year compared with 22.8% decline of its industry.
Zacks Rank and Stocks to Consider
TechnipFMC has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the oil and energy sector are Pioneer Natural Resources Company (PXD - Free Report) , Continental Resources, Inc. and W&T Offshore, Inc. (WTI - Free Report) . While Pioneer Natural and Continental Resources sport a Zacks Rank #1 (Strong Buy), W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Irving, TX-based Pioneer Natural is an independent oil and gas exploration and production company. Its revenues for first-quarter 2018 are anticipated to improve 23.7% from the prior-year quarter. The company delivered an average beat of 66.9% in the trailing four quarters.
Oklahoma City, OK-based Continental Resources is an oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 54.9% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 364.7%.
Houston, TX-based W&T Offshore is an upstream energy player. Its earnings for 2018 are anticipated to improve 3.6% year over year. The company pulled off an average positive earnings surprise of 542.8% in the trailing four quarters.
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TechnipFMC and Magma Global to Unite in a Strategic Alliance
TechnipFMC plc (FTI - Free Report) recently agreed to the terms for jointly developing a new generation of hybrid flexible pipe (HFP) with Magma Global Ltd. This type of pipe will be used in offshore activities.
Per the deal, the oilfield service provider TechnipFMC will acquire a minority interest in Magma Global that produces high strength carbon fiber pipes.
Project Importance
The company expects the HFP to heighten performance and stress-bearing ability of subsea fluid transportations. It is also assumed to reduce cost and weight of the carriers, which in turn will increase efficiency. The HFP will be made keeping in mind the demand for composite subsea infrastructure that connects the seabed to the surface.
This is nothing new for TechnipFMC, a regular investor in technologies. The company has shown its technology leadership through Subsea 2.0. It is currently advancing on developing next-generation floating liquefied natural gas (FLNG).
TechnipFMC expects the deal to improve its Subsea 2.0 product platform. The cost-effective HFP solution will enable the company address offshore deepwater difficulties around the globe and help its clients. Moreover, the strategic collaboration with Magma Global is expected to put both the companies in leadership positions in their respective markets.
About TechnipFMC
London-based TechnipFMC is a leading manufacturer and supplier of technology solutions for the energy industry. The company, which reached its current form following the January 2017 merger between Technip and FMC Technologies, is engaged in the designing, producing and servicing of technologically sophisticated systems, and products for subsea, onshore/offshore, and surface projects. The company currently has more than 37,000 employees.
Price Performance
TechnipFMC has lost 8.3% in a year compared with 22.8% decline of its industry.
Zacks Rank and Stocks to Consider
TechnipFMC has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the oil and energy sector are Pioneer Natural Resources Company (PXD - Free Report) , Continental Resources, Inc. and W&T Offshore, Inc. (WTI - Free Report) . While Pioneer Natural and Continental Resources sport a Zacks Rank #1 (Strong Buy), W&T Offshore carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Irving, TX-based Pioneer Natural is an independent oil and gas exploration and production company. Its revenues for first-quarter 2018 are anticipated to improve 23.7% from the prior-year quarter. The company delivered an average beat of 66.9% in the trailing four quarters.
Oklahoma City, OK-based Continental Resources is an oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 54.9% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 364.7%.
Houston, TX-based W&T Offshore is an upstream energy player. Its earnings for 2018 are anticipated to improve 3.6% year over year. The company pulled off an average positive earnings surprise of 542.8% in the trailing four quarters.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>