TechnipFMC (NYSE:FTI) Price Target Raised to $66.00

TechnipFMC (NYSE:FTI) had its price objective upped by The Goldman Sachs Group from $55.00 to $66.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other research firms have also commented on FTI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. Piper Sandler upped their target price on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Susquehanna lifted their price target on TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a research report on Friday, February 20th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and boosted their price target for the company from $49.00 to $62.00 in a report on Friday, February 20th. Finally, UBS Group set a $70.00 price objective on shares of TechnipFMC in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.47.

TechnipFMC Trading Down 2.3%

TechnipFMC stock opened at $62.93 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC has a 52 week low of $22.11 and a 52 week high of $68.29. The company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.20 and a beta of 0.70. The stock has a 50-day moving average price of $56.56 and a 200 day moving average price of $46.35.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. TechnipFMC’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. Sell-side analysts anticipate that TechnipFMC will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is currently 8.66%.

Insiders Place Their Bets

In related news, Director Carvalho Filho Eleazar De sold 6,350 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the transaction, the director directly owned 97,860 shares of the company’s stock, valued at approximately $6,400,044. This trade represents a 6.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently made changes to their positions in FTI. Blue Trust Inc. boosted its stake in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of TechnipFMC in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC in the third quarter worth about $32,000. Geneos Wealth Management Inc. grew its stake in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.