We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TechnipFMC (FTI) to Sell Measurement Solutions for $205M Cash
Read MoreHide Full Article
TechnipFMC plc (FTI - Free Report) , an oilfield service provider, announced plans to sell its Measurement Solutions business to One Equity Partners in a deal worth $205 million cash. The agreement is pending customary adjustments at the closing of the transaction.
The Measurement Solutions business, operating under the Surface Technologies segment, specializes in terminal management solutions and metering products and systems. It has engineering and manufacturing facilities in North America and Europe.
One Equity Partners, the private equity arm of JPMorgan Chase, emerged as the buyer for the Measurement Solutions business. The acquisition represents an opportunity for One Equity Partners to strengthen its presence in the oil and gas sector, capitalizing on the expertise and capabilities embedded in the aforementioned business.
Doug Pferdehirt, the chair and chief executive fficer at TechnipFMC, emphasized the significance of this strategic move. He stated that this transaction reflects the company’s broader portfolio strategy to further focus on core products and market-leading technologies, as well as integrated solutions and services for clients.
The transaction is expected to conclude during the first half of 2024, subject to customary closing conditions. TechnipFMC will collaborate closely with One Equity Partners to facilitate a smooth transition of business activities. The sale is in line with FTI’s efforts to streamline its portfolio and concentrate on key areas of expertise. The company aims to enhance its focus on core products, market-leading technologies, and integrated solutions and services.
Zacks Rank & Key Picks
Currently, TechnipFMC carries a Zack Rank #3 (Hold).
Matador Resources is among the leading oil and gas explorers in the shale and unconventional resources in the United States. The company’s prime intention is to create more value for shareholders and generate lucrative returns from the capital invested in unconventional plays.
MTDR’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.89%.
Liberty Energy is a North American provider of hydraulic fracturing services to upstream energy operators. The company’s multi-basin presence offers an attractive upside opportunity compared to most of its peers. Liberty's strong relationship with high-quality customers provides revenue visibility and business certainty.
LBRT’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.88%.
Oceaneering International is a leading provider of integrated technology solutions, active at all phases of the offshore oilfield lifecycle. Its strong relationship with high-quality customers provides revenue visibility and business certainty. It is well-positioned to supply equipment for deep-water projects and is active at all phases of the offshore oilfield lifecycle.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
TechnipFMC (FTI) to Sell Measurement Solutions for $205M Cash
TechnipFMC plc (FTI - Free Report) , an oilfield service provider, announced plans to sell its Measurement Solutions business to One Equity Partners in a deal worth $205 million cash. The agreement is pending customary adjustments at the closing of the transaction.
The Measurement Solutions business, operating under the Surface Technologies segment, specializes in terminal management solutions and metering products and systems. It has engineering and manufacturing facilities in North America and Europe.
One Equity Partners, the private equity arm of JPMorgan Chase, emerged as the buyer for the Measurement Solutions business. The acquisition represents an opportunity for One Equity Partners to strengthen its presence in the oil and gas sector, capitalizing on the expertise and capabilities embedded in the aforementioned business.
Doug Pferdehirt, the chair and chief executive fficer at TechnipFMC, emphasized the significance of this strategic move. He stated that this transaction reflects the company’s broader portfolio strategy to further focus on core products and market-leading technologies, as well as integrated solutions and services for clients.
The transaction is expected to conclude during the first half of 2024, subject to customary closing conditions. TechnipFMC will collaborate closely with One Equity Partners to facilitate a smooth transition of business activities. The sale is in line with FTI’s efforts to streamline its portfolio and concentrate on key areas of expertise. The company aims to enhance its focus on core products, market-leading technologies, and integrated solutions and services.
Zacks Rank & Key Picks
Currently, TechnipFMC carries a Zack Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Matador Resources Company (MTDR - Free Report) , Liberty Energy Inc. (LBRT - Free Report) and Oceaneering International, Inc. (OII - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Matador Resources is among the leading oil and gas explorers in the shale and unconventional resources in the United States. The company’s prime intention is to create more value for shareholders and generate lucrative returns from the capital invested in unconventional plays.
MTDR’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.89%.
Liberty Energy is a North American provider of hydraulic fracturing services to upstream energy operators. The company’s multi-basin presence offers an attractive upside opportunity compared to most of its peers. Liberty's strong relationship with high-quality customers provides revenue visibility and business certainty.
LBRT’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.88%.
Oceaneering International is a leading provider of integrated technology solutions, active at all phases of the offshore oilfield lifecycle. Its strong relationship with high-quality customers provides revenue visibility and business certainty. It is well-positioned to supply equipment for deep-water projects and is active at all phases of the offshore oilfield lifecycle.