TechnipFMC (NYSE:FTI) Given New $28.50 Price Target at Bank of America

TechnipFMC (NYSE:FTI) had its target price raised by Bank of America from $24.00 to $28.50 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

FTI has been the topic of several other research reports. ATB Capital set a $30.00 target price on shares of TechnipFMC and gave the stock an outperform rating in a research report on Friday, December 22nd. StockNews.com lowered TechnipFMC from a buy rating to a hold rating in a report on Thursday, April 11th. TD Cowen boosted their price objective on TechnipFMC from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. Benchmark reaffirmed a buy rating and set a $30.00 target price (up from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. Finally, Barclays lifted their target price on TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $25.34.

TechnipFMC Stock Down 0.7 %

FTI stock opened at $25.16 on Monday. The firm has a market capitalization of $11.00 billion, a PE ratio of 209.68 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. TechnipFMC has a twelve month low of $12.64 and a twelve month high of $27.26. The stock’s 50 day moving average is $23.42 and its 200-day moving average is $21.28.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business’s revenue was up 22.6% on a year-over-year basis. During the same period last year, the business earned ($0.05) EPS. Sell-side analysts expect that TechnipFMC will post 1.15 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th were paid a $0.05 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. TechnipFMC’s payout ratio is 166.68%.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. bought a new stake in shares of TechnipFMC during the fourth quarter valued at about $37,976,000. Cerity Partners LLC purchased a new position in TechnipFMC during the fourth quarter valued at approximately $6,836,000. SG Americas Securities LLC increased its holdings in TechnipFMC by 71.1% during the 4th quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock worth $3,072,000 after acquiring an additional 63,378 shares during the period. Syntal Capital Partners LLC purchased a new stake in TechnipFMC in the 3rd quarter worth approximately $665,000. Finally, Vanguard Group Inc. lifted its stake in TechnipFMC by 320.3% in the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after purchasing an additional 30,323,011 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

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.