TechnipFMC (NYSE:FTI) Reaches New 52-Week High on Analyst Upgrade

TechnipFMC plc (NYSE:FTI) shares reached a new 52-week high on Monday after Benchmark raised their price target on the stock from $25.00 to $30.00. Benchmark currently has a buy rating on the stock. TechnipFMC traded as high as $25.71 and last traded at $25.65, with a volume of 1204572 shares. The stock had previously closed at $25.11.

FTI has been the subject of several other research reports. Barclays upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price for the company. in a research note on Friday, February 23rd. ATB Capital set a $30.00 target price on TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, December 22nd. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Finally, Susquehanna boosted their target price on TechnipFMC from $25.00 to $27.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

Several large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of TechnipFMC by 1.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 254,474 shares of the oil and gas company’s stock valued at $5,125,000 after purchasing an additional 4,554 shares during the last quarter. SCP Investment LP increased its position in shares of TechnipFMC by 166.7% during the 4th quarter. SCP Investment LP now owns 28,800 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 18,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in TechnipFMC by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after acquiring an additional 126,247 shares during the last quarter. Wellington Management Group LLP increased its holdings in TechnipFMC by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 1,734,329 shares of the oil and gas company’s stock worth $34,929,000 after acquiring an additional 161,289 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in TechnipFMC by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock worth $70,864,000 after acquiring an additional 85,451 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Trading Up 2.0 %

The firm has a fifty day moving average of $21.58 and a two-hundred day moving average of $20.76. The company has a market cap of $11.20 billion, a PE ratio of 209.27 and a beta of 1.65. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, sell-side analysts predict that TechnipFMC plc will post 1.16 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.78%. TechnipFMC’s dividend payout ratio is currently 166.68%.

TechnipFMC Company Profile

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.