TechnipFMC (NYSE:FTI) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of TechnipFMC (NYSE:FTI) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Barclays reiterated an “overweight” rating and issued a $69.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. Finally, BMO Capital Markets boosted their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.20.

TechnipFMC Stock Performance

NYSE:FTI opened at $71.62 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 1.31 and a beta of 0.71. The firm’s fifty day simple moving average is $63.85 and its 200 day simple moving average is $50.83. TechnipFMC has a twelve month low of $22.11 and a twelve month high of $72.59.

TechnipFMC (NYSE:FTI) last posted its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.19. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. As a group, equities research analysts expect that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is currently 8.66%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the transaction, the executive vice president owned 78,871 shares in the company, valued at $4,923,916.53. The trade was a 37.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the completion of the transaction, the chief executive officer owned 2,411,852 shares in the company, valued at $150,113,668.48. This represents a 23.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,216,442 shares of company stock worth $75,762,414 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of TechnipFMC by 5,475.0% in the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 657 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC during the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TechnipFMC during the 4th quarter valued at approximately $41,000. Finally, Torren Management LLC acquired a new stake in shares of TechnipFMC during the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.