TechnipFMC (NYSE:FTI) Lowered to Hold at StockNews.com

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

A number of other brokerages have also recently commented on FTI. TD Cowen increased their target price on TechnipFMC from $26.00 to $28.00 and gave the company an outperform rating in a report on Friday, February 23rd. ATB Capital set a $30.00 target price on shares of TechnipFMC and gave the stock an outperform rating in a research note on Friday, December 22nd. Susquehanna increased their target price on shares of TechnipFMC from $25.00 to $27.00 and gave the company a positive rating in a research report on Friday, February 23rd. Barclays upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Finally, HSBC cut TechnipFMC from a buy rating to a hold rating and set a $23.60 target price on the stock. in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of Moderate Buy and an average price target of $24.74.

TechnipFMC Stock Performance

FTI opened at $25.11 on Monday. The firm’s 50-day moving average price is $21.47 and its 200-day moving average price is $20.74. The company has a market cap of $10.98 billion, a P/E ratio of 209.27 and a beta of 1.64. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $25.71.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the firm earned ($0.05) EPS. The business’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts anticipate that TechnipFMC will post 1.16 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Tuesday, March 19th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.80%. TechnipFMC’s payout ratio is currently 166.68%.

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 stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

A number of large investors have recently modified their holdings of FTI. Harbour Investments Inc. increased its holdings in TechnipFMC by 366.7% in the third quarter. Harbour Investments Inc. now owns 1,400 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 1,100 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of TechnipFMC in the third quarter worth $29,000. Johnson Financial Group Inc. acquired a new stake in shares of TechnipFMC during the fourth quarter valued at $33,000. Quarry LP raised its stake in TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 768 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in TechnipFMC by 382.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,975 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,566 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.