TechnipFMC plc (NYSE:FTI – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $68.40 and last traded at $68.6090, with a volume of 587200 shares changing hands. The stock had previously closed at $65.26.
Analyst Ratings Changes
A number of equities analysts have recently commented on FTI shares. The Goldman Sachs Group boosted their price objective on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Piper Sandler boosted their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and increased their price objective for the company from $49.00 to $62.00 in a research report on Friday, February 20th. Finally, BMO Capital Markets raised their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.47.
View Our Latest Research Report on FTI
TechnipFMC Stock Up 3.2%
TechnipFMC (NYSE:FTI – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 earnings per share. On average, sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.
TechnipFMC Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 8.66%.
Insider Transactions at TechnipFMC
In other TechnipFMC news, EVP Justin Rounce sold 172,276 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares in the company, valued at $7,431,320.70. This represents a 59.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alf Melin sold 83,721 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $61.83, for a total value of $5,176,469.43. Following the transaction, the chief financial officer directly owned 282,537 shares in the company, valued at approximately $17,469,262.71. The trade was a 22.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,210,092 shares of company stock worth $75,322,232. Insiders own 1.80% of the company’s stock.
Institutional Trading of TechnipFMC
Large investors have recently made changes to their positions in the company. Focus Partners Wealth lifted its stake in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of TechnipFMC by 76.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after acquiring an additional 6,381 shares during the period. SG Americas Securities LLC purchased a new stake in TechnipFMC in the 2nd quarter valued at $486,000. Finally, Creative Planning raised its position in TechnipFMC by 50.5% in the 2nd quarter. Creative Planning now owns 36,492 shares of the oil and gas company’s stock valued at $1,257,000 after purchasing an additional 12,240 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.
About TechnipFMC
TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.
Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.
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