TechnipFMC (NYSE:FTI) Price Target Raised to $82.00

TechnipFMC (NYSE:FTI) had its price target upped by Susquehanna from $71.00 to $82.00 in a report issued on Wednesday,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

A number of other research firms have also recently weighed in on FTI. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Citigroup increased their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and upped their price objective for the company from $49.00 to $62.00 in a research note on Friday, February 20th. Finally, TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

TechnipFMC Trading Up 1.3%

NYSE:FTI opened at $71.25 on Wednesday. TechnipFMC has a 1 year low of $22.11 and a 1 year high of $71.49. The stock has a market cap of $28.61 billion, a P/E ratio of 30.85, a P/E/G ratio of 1.30 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The stock has a 50-day simple moving average of $61.88 and a 200-day simple moving average of $49.41.

TechnipFMC (NYSE:FTI) last issued its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.19. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. As a group, analysts anticipate that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be paid 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%.

Insider Activity at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 733,424 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the transaction, the chief executive officer directly owned 2,411,852 shares of the company’s stock, valued at approximately $150,113,668.48. This trade represents a 23.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alf Melin sold 83,721 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the completion of the sale, the chief financial officer directly owned 282,537 shares of the company’s stock, valued at $17,469,262.71. The trade was a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Trading of TechnipFMC

A number of hedge funds have recently added to or reduced their stakes in FTI. Independent Advisor Alliance increased its holdings in shares of TechnipFMC by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after purchasing an additional 184 shares during the period. Personal CFO Solutions LLC grew its position in TechnipFMC by 3.0% in the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after buying an additional 225 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in TechnipFMC by 5.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock valued at $235,000 after buying an additional 262 shares during the last quarter. Kestra Advisory Services LLC increased its stake in TechnipFMC by 2.8% in the 4th quarter. Kestra Advisory Services LLC now owns 11,353 shares of the oil and gas company’s stock valued at $506,000 after buying an additional 305 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in TechnipFMC by 45.3% in 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 buying an additional 340 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

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.