TD Cowen Increases TechnipFMC (NYSE:FTI) Price Target to $32.00

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

FTI has been the subject of a number of other research reports. HSBC downgraded TechnipFMC from a buy rating to a hold rating and set a $23.60 price objective for the company. in a report on Friday, February 23rd. Susquehanna lifted their price objective on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a positive rating in a research note on Friday. Barclays boosted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Benchmark reiterated a buy rating and issued a $30.00 target price on shares of TechnipFMC in a report on Friday. Finally, StockNews.com cut shares of TechnipFMC from a buy rating to a hold rating in a research report on Saturday, April 20th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $26.14.

TechnipFMC Stock Up 0.1 %

Shares of NYSE FTI opened at $26.61 on Friday. TechnipFMC has a 1 year low of $12.64 and a 1 year high of $27.26. The firm’s 50-day moving average is $24.35 and its 200-day moving average is $21.61. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $11.63 billion, a PE ratio of 56.62 and a beta of 1.65.

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, beating analysts’ consensus estimates of $0.16 by $0.06. The firm 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 firm’s revenue was up 18.9% on a year-over-year basis. Equities analysts expect that TechnipFMC will post 1.15 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced 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 yield of 0.75%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s dividend payout ratio is presently 42.55%.

Insider Activity

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 shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, 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 SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently added to or reduced their stakes in FTI. Ballentine Partners LLC acquired a new stake in TechnipFMC during the third quarter worth about $203,000. Xponance Inc. increased its position in TechnipFMC by 128.1% during the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after purchasing an additional 19,451 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in TechnipFMC by 14.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock valued at $264,000 after acquiring an additional 1,674 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TechnipFMC by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after purchasing an additional 13,265 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in TechnipFMC by 50.0% in the third quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock valued at $16,659,000 after buying an additional 278,637 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.