TD Cowen Raises TechnipFMC (NYSE:FTI) Price Target to $32.00

TechnipFMC (NYSE:FTI) had its target price raised by TD Cowen from $30.00 to $32.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other equities research analysts have also issued reports on the stock. Bank of America increased their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a buy rating in a research note on Monday, April 15th. Susquehanna raised their price objective on TechnipFMC from $27.00 to $34.00 and gave the company a positive rating in a report on Friday. Barclays upped their target price on TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. StockNews.com cut shares of TechnipFMC from a buy rating to a hold rating in a research note on Saturday, April 20th. Finally, HSBC cut shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 price objective for the company. in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of Moderate Buy and an average target price of $26.14.

TechnipFMC Stock Up 0.1 %

TechnipFMC stock opened at $26.61 on Friday. The business’s 50-day simple moving average is $24.35 and its two-hundred day simple moving average is $21.61. The company has a market cap of $11.63 billion, a PE ratio of 56.62 and a beta of 1.65. TechnipFMC has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 1.16.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The company’s revenue was up 18.9% compared to the same quarter last year. Equities analysts anticipate that TechnipFMC will post 1.15 EPS for the current year.

TechnipFMC Announces Dividend

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

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.93% of the stock is owned by insiders.

Institutional Trading of TechnipFMC

A number of hedge funds and other institutional investors have recently modified their holdings of FTI. Ballentine Partners LLC purchased a new stake in shares of TechnipFMC in the third quarter valued at about $203,000. Xponance Inc. raised its position in TechnipFMC by 128.1% in the third quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after purchasing an additional 19,451 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in TechnipFMC by 14.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock valued at $264,000 after acquiring an additional 1,674 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TechnipFMC by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after buying an additional 13,265 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of TechnipFMC by 50.0% in the 3rd quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock valued at $16,659,000 after buying an additional 278,637 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

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.