Piper Sandler Boosts TechnipFMC (NYSE:FTI) Price Target to $34.00

TechnipFMC (NYSE:FTI) had its target price lifted by Piper Sandler from $30.00 to $34.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

FTI has been the topic of a number of other research reports. HSBC lowered shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 target price on the stock. in a research report on Friday, February 23rd. Bank of America increased their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a research note on Monday, April 15th. TD Cowen boosted their price target on TechnipFMC from $30.00 to $32.00 and gave the company a buy rating in a research note on Friday, April 26th. Benchmark reiterated a buy rating and issued a $30.00 price objective on shares of TechnipFMC in a research report on Friday, April 26th. Finally, Susquehanna boosted their price objective on TechnipFMC from $27.00 to $34.00 and gave the company a positive rating in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $27.21.

TechnipFMC Stock Up 0.3 %

Shares of FTI traded up $0.08 during trading hours on Monday, reaching $26.44. The company’s stock had a trading volume of 135,313 shares, compared to its average volume of 4,582,603. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 56.06 and a beta of 1.62. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $24.83 and a two-hundred day moving average of $21.79. TechnipFMC has a 1-year low of $13.11 and a 1-year high of $27.26.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The company’s revenue was up 18.9% on a year-over-year basis. As a group, research analysts predict that TechnipFMC will post 1.16 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio (DPR) is currently 42.55%.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is owned by company insiders.

Institutional Trading of TechnipFMC

Hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust bought a new position in TechnipFMC in the 3rd quarter valued at about $29,000. Whittier Trust Co. acquired a new position in TechnipFMC during the first quarter valued at approximately $29,000. Johnson Financial Group Inc. acquired a new stake in shares of TechnipFMC in the 4th quarter valued at $33,000. Quarry LP increased its stake in shares of 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, Harvest Fund Management Co. Ltd acquired a new position in shares of TechnipFMC during the 4th quarter worth $45,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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.