Barclays Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its price target hoisted by Barclays from $70.00 to $87.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other brokerages have also recently issued reports on FTI. BMO Capital Markets upped their target price on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and upped their price target for the company from $49.00 to $62.00 in a research report on Friday, February 20th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $66.53.

TechnipFMC Price Performance

TechnipFMC stock opened at $70.18 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC has a 52 week low of $28.87 and a 52 week high of $77.78. The stock has a market capitalization of $27.98 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.44 and a beta of 0.74. The stock has a fifty day moving average of $69.62 and a 200-day moving average of $56.04.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that TechnipFMC will post 2.93 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 7.63%.

Insiders Place Their Bets

In other TechnipFMC news, insider Jonathan Landes sold 116,194 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.20, for a total value of $7,227,266.80. Following the transaction, the insider owned 71,356 shares in the company, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alf Melin sold 83,721 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the transaction, the chief financial officer owned 282,537 shares in the company, valued at approximately $17,469,262.71. The trade was a 22.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of TechnipFMC by 135.6% in the first quarter. PNC Financial Services Group Inc. now owns 74,194 shares of the oil and gas company’s stock worth $5,129,000 after purchasing an additional 42,697 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of TechnipFMC during the first quarter valued at approximately $1,276,000. DUTCH ASSET Corp grew its holdings in TechnipFMC by 18.3% during the first quarter. DUTCH ASSET Corp now owns 17,441 shares of the oil and gas company’s stock valued at $1,206,000 after purchasing an additional 2,703 shares during the period. Earned Wealth Advisors LLC grew its holdings in TechnipFMC by 6.8% during the first quarter. Earned Wealth Advisors LLC now owns 9,101 shares of the oil and gas company’s stock valued at $629,000 after purchasing an additional 583 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in TechnipFMC by 7.2% during the first quarter. Meeder Asset Management Inc. now owns 84,432 shares of the oil and gas company’s stock valued at $5,837,000 after purchasing an additional 5,675 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

About TechnipFMC

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.