TechnipFMC (NYSE:FTI) Shares Up 4.2% Following Strong Earnings

TechnipFMC plc (NYSE:FTI)’s share price traded up 4.2% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $26.85 and last traded at $26.79. 2,581,604 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 4,653,382 shares. The stock had previously closed at $25.72.

The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. The business’s quarterly revenue was up 18.9% on a year-over-year basis.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

Analysts Set New Price Targets

FTI has been the subject of a number of recent research reports. TD Cowen boosted their target price on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a report on Friday, February 23rd. Bank of America upped their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Barclays lifted their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price of $26.07.

Insider Activity

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of 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 worth $809,303,000 after acquiring an additional 30,323,011 shares in the last quarter. Invesco Ltd. increased its stake in TechnipFMC by 75.7% in the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock valued at $263,809,000 after buying an additional 5,587,050 shares during the last quarter. American Century Companies Inc. lifted its position in TechnipFMC by 161.9% during the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock worth $108,048,000 after buying an additional 3,283,972 shares in the last quarter. Norges Bank acquired a new position in shares of TechnipFMC during the 4th quarter worth about $61,570,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of TechnipFMC by 868.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after acquiring an additional 2,808,618 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 56.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.92. The business has a 50-day moving average of $24.21 and a 200-day moving average of $21.54.

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.