TechnipFMC (NYSE:FTI) Price Target Increased to $34.00 by Analysts at Piper Sandler

TechnipFMC (NYSE:FTI) had its price target lifted by Piper Sandler from $30.00 to $34.00 in a report released on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas company’s stock.

Other analysts have also recently issued reports about the stock. Susquehanna lifted their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a positive rating in a research note on Friday, April 26th. Benchmark reissued a buy rating and set a $30.00 price objective on shares of TechnipFMC in a report on Friday, April 26th. TD Cowen upped their target price on TechnipFMC from $30.00 to $32.00 and gave the company a buy rating in a research report on Friday, April 26th. HSBC cut TechnipFMC from a buy rating to a hold rating and set a $23.60 price target for the company. in a research report on Friday, February 23rd. Finally, StockNews.com raised TechnipFMC from a hold rating to a buy rating in a report on Sunday, April 28th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, TechnipFMC currently has an average rating of Moderate Buy and an average price target of $27.21.

TechnipFMC Price Performance

NYSE FTI opened at $26.83 on Monday. The firm’s fifty day simple moving average is $25.12 and its two-hundred day simple moving average is $21.91. The firm has a market capitalization of $11.56 billion, a P/E ratio of 57.09 and a beta of 1.62. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. TechnipFMC has a 12-month low of $13.11 and a 12-month high of $27.30.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Analysts forecast that TechnipFMC will post 1.16 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be issued 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 dividend payout ratio (DPR) is presently 42.55%.

Insider Activity

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’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 completion of the transaction, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FTI. Parkside Financial Bank & Trust purchased a new stake in TechnipFMC in the third quarter valued at approximately $29,000. Whittier Trust Co. purchased a new stake in shares of TechnipFMC in the 1st quarter valued at $29,000. Johnson Financial Group Inc. acquired a new position in TechnipFMC during the 4th quarter worth about $33,000. Quarry LP boosted its holdings in TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in TechnipFMC in the 4th quarter valued at about $45,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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.