TechnipFMC (NYSE:FTI) Price Target Raised to $90.00

TechnipFMC (NYSE:FTI) had its price target boosted by Barclays from $86.00 to $90.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other brokerages also recently weighed in on FTI. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 30th. Susquehanna reduced their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. UBS Group initiated coverage on TechnipFMC in a research report on Monday, October 12th. They set a “buy” rating and a $89.00 price target on the stock. Finally, Citigroup upped their price objective on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $78.18.

TechnipFMC Trading Down 3.5%

Shares of FTI stock opened at $64.40 on Monday. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.04 and a beta of 0.89. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $71.71 and a 200 day moving average price of $69.21. TechnipFMC has a twelve month low of $41.56 and a twelve month high of $80.70.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.17. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.79 billion. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Research analysts forecast that TechnipFMC will post 3.28 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 17th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is currently 6.29%.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric Mullins purchased 6,365 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company’s stock.

Institutional Trading of TechnipFMC

Institutional investors have recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC acquired a new stake in shares of TechnipFMC in the second quarter worth about $3,470,000. Chase Investment Counsel Corp bought a new stake in shares of TechnipFMC during the 2nd quarter worth about $12,397,000. Globeflex Capital L P acquired a new position in shares of TechnipFMC during the 2nd quarter valued at about $1,011,000. Proficio Capital Partners LLC acquired a new position in shares of TechnipFMC during the 2nd quarter valued at about $1,301,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of TechnipFMC during the 2nd quarter valued at about $2,337,000. 96.58% of the stock is owned by institutional investors and hedge funds.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.