Bank of America Raises TechnipFMC (NYSE:FTI) Price Target to $31.00

TechnipFMC (NYSE:FTI) had its price target boosted by Bank of America from $30.00 to $31.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

FTI has been the topic of a number of other reports. Citigroup increased their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. BMO Capital Markets raised their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, Susquehanna raised their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.74.

TechnipFMC Stock Performance

NYSE FTI opened at $26.48 on Monday. The firm has a market capitalization of $11.41 billion, a P/E ratio of 56.34 and a beta of 1.50. The stock has a 50-day simple moving average of $26.21 and a two-hundred day simple moving average of $26.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the business earned $0.10 earnings per share. TechnipFMC’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities analysts forecast that TechnipFMC will post 1.37 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

Hedge Funds Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norden Group LLC lifted its position in shares of TechnipFMC by 2,899.1% in the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after acquiring an additional 366,266 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TechnipFMC by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after acquiring an additional 126,247 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of TechnipFMC in the first quarter valued at approximately $965,000. Atria Investments Inc acquired a new stake in shares of TechnipFMC in the first quarter valued at approximately $1,684,000. Finally, Raymond James & Associates increased its holdings in shares of TechnipFMC by 12.0% in the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after purchasing an additional 36,326 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

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.