TechnipFMC (NYSE:FTI) Raised to “Strong-Buy” at UBS Group

TechnipFMC (NYSE:FTI) was upgraded by UBS Group to a “strong-buy” rating in a report released on Monday, Zacks reports.

A number of other research analysts also recently issued reports on the stock. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Citigroup upped their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 2nd. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Susquehanna reduced their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and an average price target of $74.92.

TechnipFMC Stock Performance

FTI opened at $70.63 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC has a 12-month low of $35.29 and a 12-month high of $80.70. The firm has a 50 day moving average of $73.91 and a two-hundred day moving average of $71.86. The firm has a market capitalization of $27.70 billion, a PE ratio of 24.53, a P/E/G ratio of 1.12 and a beta of 0.83.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. On average, analysts anticipate that TechnipFMC will post 3.20 EPS for the current year.

Insiders Place Their Bets

In other news, Director Eric Mullins acquired 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the transaction, the insider owned 85,813 shares of the company’s stock, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TechnipFMC

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in TechnipFMC in the second quarter valued at approximately $3,081,514,000. Amundi raised its stake in shares of TechnipFMC by 72.6% during the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock worth $288,943,000 after buying an additional 1,832,581 shares during the period. Bank of America Corp DE acquired a new position in shares of TechnipFMC during the 2nd quarter worth approximately $226,069,000. Bank of New York Mellon Corp lifted its position in shares of TechnipFMC by 7.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company’s stock valued at $199,011,000 after buying an additional 194,799 shares in the last quarter. Finally, Danske Bank A S purchased a new position in shares of TechnipFMC during the 2nd quarter valued at approximately $163,822,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.