TechnipFMC (NYSE:FTI) Price Target Raised to $34.00

TechnipFMC (NYSE:FTI) had its target price boosted by Susquehanna from $27.00 to $34.00 in a report released on Friday, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

A number of other brokerages have also weighed in on FTI. Bank of America raised their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a report on Monday, April 15th. TD Cowen raised their price objective on shares of TechnipFMC from $26.00 to $28.00 and gave the company an outperform rating in a report on Friday, February 23rd. Benchmark reiterated a buy rating and set a $30.00 price target (up from $25.00) on shares of TechnipFMC in a research note on Monday, April 1st. HSBC lowered shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 price target on the stock. in a research note on Friday, February 23rd. Finally, StockNews.com lowered shares of TechnipFMC from a buy rating to a hold rating in a research note on Saturday, April 20th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $26.07.

TechnipFMC Price Performance

TechnipFMC stock opened at $26.59 on Friday. The firm has a market cap of $11.62 billion, a PE ratio of 56.57 and a beta of 1.65. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $24.21 and its two-hundred day moving average is $21.54.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, research 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 will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is currently 42.55%.

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of FTI. Vanguard Group Inc. grew its holdings in TechnipFMC by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after purchasing an additional 126,247 shares during the period. Invesco Ltd. grew its holdings in TechnipFMC by 75.7% in the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock valued at $263,809,000 after purchasing an additional 5,587,050 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in TechnipFMC by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,214,539 shares of the oil and gas company’s stock valued at $207,764,000 after purchasing an additional 593,828 shares during the period. American Century Companies Inc. grew its holdings in TechnipFMC by 161.9% in the third quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after purchasing an additional 3,283,972 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in TechnipFMC by 68.7% during the third quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company’s stock worth $81,380,000 after buying an additional 1,629,170 shares during the period. Institutional investors and hedge funds 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.