TechnipFMC (NYSE:FTI) PT Raised to $32.00 at TD Cowen

TechnipFMC (NYSE:FTI) had its target price lifted by TD Cowen from $30.00 to $32.00 in a research report report published on Friday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

Several other brokerages have also recently issued reports on FTI. Benchmark reaffirmed a buy rating and issued a $30.00 price objective on shares of TechnipFMC in a research note on Friday. Susquehanna raised their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a positive rating in a report on Friday. HSBC cut shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 target price for the company. in a report on Friday, February 23rd. Barclays raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Finally, Bank of America raised their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a buy rating in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of Moderate Buy and an average price target of $26.07.

TechnipFMC Stock Performance

Shares of FTI opened at $26.59 on Friday. The firm’s 50 day moving average is $24.21 and its 200-day moving average is $21.54. The stock has a market capitalization of $11.62 billion, a P/E ratio of 56.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.92. TechnipFMC has a 12-month low of $12.64 and a 12-month high of $27.26.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts anticipate that TechnipFMC will post 1.15 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Monday, May 20th. TechnipFMC’s payout ratio is currently 42.55%.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.06% of the stock is owned by company insiders.

Institutional Trading of TechnipFMC

Several large investors have recently bought and sold shares of FTI. Parkside Financial Bank & Trust acquired a new stake in TechnipFMC in the third quarter valued at about $29,000. Johnson Financial Group Inc. acquired a new stake in TechnipFMC in the fourth quarter valued at about $33,000. Quarry LP boosted its stake in TechnipFMC by 76.6% in the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 768 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in TechnipFMC in the fourth quarter valued at about $45,000. Finally, Systematic Alpha Investments LLC acquired a new stake in TechnipFMC in the third quarter valued at about $146,000. 96.58% of the stock is owned by institutional investors and hedge funds.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.