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

TechnipFMC (NYSE:FTI) had its price objective increased by Piper Sandler from $30.00 to $34.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Several other research firms have also recently issued reports on FTI. Benchmark reissued a buy rating and issued a $30.00 price objective on shares of TechnipFMC in a research report on Friday, April 26th. Susquehanna boosted 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, April 26th. HSBC downgraded shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 target price for the company. in a research note on Friday, February 23rd. TD Cowen upped their price target on TechnipFMC from $30.00 to $32.00 and gave the stock a buy rating in a research report on Friday, April 26th. Finally, Bank of America boosted their target price on TechnipFMC from $24.00 to $28.50 and gave the stock a buy rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $27.21.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $26.83 on Monday. 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. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 57.09 and a beta of 1.62. The firm’s 50-day moving average is $25.12 and its 200 day moving average is $21.91.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.96 billion. The business’s quarterly revenue was up 18.9% on a year-over-year basis. Research analysts predict that TechnipFMC will post 1.16 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the 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 sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in TechnipFMC by 0.3% in the 4th 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 last quarter. Invesco Ltd. raised its position in shares of TechnipFMC by 75.7% during the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after acquiring an additional 5,587,050 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 last quarter. American Century Companies Inc. increased its holdings in shares of 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 raised its position in TechnipFMC by 68.7% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.