TechnipFMC (NYSE:FTI) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a sell rating in a research note released on Friday morning.

A number of other brokerages have also recently weighed in on FTI. Barclays raised their price objective on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Susquehanna decreased their price target on TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.83.

TechnipFMC Stock Performance

NYSE:FTI opened at $31.33 on Friday. The stock has a market cap of $13.13 billion, a P/E ratio of 20.61 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC has a twelve month low of $22.12 and a twelve month high of $33.45. The business’s 50-day moving average price is $28.11 and its two-hundred day moving average price is $29.30.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. As a group, equities analysts predict that TechnipFMC will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be given a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. TechnipFMC’s dividend payout ratio is currently 10.53%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently made changes to their positions in FTI. Park Avenue Securities LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $519,000. Hennessy Advisors Inc. raised its stake in TechnipFMC by 6.7% during the fourth quarter. Hennessy Advisors Inc. now owns 404,740 shares of the oil and gas company’s stock valued at $11,713,000 after buying an additional 25,300 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of TechnipFMC during the fourth quarter valued at $410,000. Ballentine Partners LLC increased its holdings in shares of TechnipFMC by 3.8% during the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 423 shares in the last quarter. Finally, Sheets Smith Wealth Management purchased a new position in shares of TechnipFMC in the 4th quarter worth about $585,000. 96.58% of the stock is currently owned by institutional investors.

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.