TechnipFMC (NYSE:FTI) Price Target Raised to $28.50 at Bank of America

TechnipFMC (NYSE:FTI) had its price objective upped by Bank of America from $24.00 to $28.50 in a report released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

A number of other analysts have also issued reports on the company. Barclays raised their price target on TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Susquehanna reissued a positive rating and issued a $27.00 price target on shares of TechnipFMC in a research note on Monday, April 8th. ATB Capital set a $30.00 price target on TechnipFMC and gave the stock an outperform rating in a research note on Friday, December 22nd. HSBC lowered TechnipFMC from a buy rating to a hold rating and set a $23.60 price target on the stock. in a research note on Friday, February 23rd. Finally, StockNews.com lowered TechnipFMC from a buy rating to a hold rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $25.34.

TechnipFMC Stock Up 0.2 %

FTI opened at $25.32 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market cap of $11.07 billion, a P/E ratio of 211.00 and a beta of 1.65. TechnipFMC has a 52 week low of $12.64 and a 52 week high of $27.26. The business’s fifty day simple moving average is $23.30 and its 200 day simple moving average is $21.25.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. As a group, equities research analysts anticipate that TechnipFMC will post 1.15 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Tuesday, March 19th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. TechnipFMC’s payout ratio is currently 166.67%.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was 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 in the company, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently modified their holdings of FTI. Vaughan Nelson Investment Management L.P. acquired a new stake in TechnipFMC during the 4th quarter valued at approximately $37,976,000. Cerity Partners LLC acquired a new stake in TechnipFMC during the 4th quarter valued at approximately $6,836,000. SG Americas Securities LLC grew its stake in TechnipFMC by 71.1% during the 4th quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock valued at $3,072,000 after purchasing an additional 63,378 shares in the last quarter. Syntal Capital Partners LLC acquired a new stake in TechnipFMC during the 3rd quarter valued at approximately $665,000. Finally, Vanguard Group Inc. grew its stake in TechnipFMC by 320.3% during the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after purchasing an additional 30,323,011 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other 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.