TechnipFMC (NYSE:FTI) Given New $34.00 Price Target at Piper Sandler

TechnipFMC (NYSE:FTI) had its price target increased by Piper Sandler from $30.00 to $34.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

A number of other research analysts have also commented on FTI. StockNews.com upgraded shares of TechnipFMC from a hold rating to a buy rating in a research report on Sunday, April 28th. HSBC lowered TechnipFMC from a buy rating to a hold rating and set a $23.60 target price on the stock. in a research note on Friday, February 23rd. TD Cowen lifted their price target on TechnipFMC from $30.00 to $32.00 and gave the company a buy rating in a research report on Friday, April 26th. Barclays upped their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an overweight rating in a research report on Monday, April 29th. Finally, Susquehanna boosted their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a positive rating in a research note on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of Moderate Buy and an average price target of $27.21.

TechnipFMC Price Performance

TechnipFMC stock opened at $26.59 on Monday. TechnipFMC has a one year low of $13.11 and a one year high of $27.26. The business has a fifty day moving average price of $25.02 and a 200-day moving average price of $21.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The firm has a market capitalization of $11.46 billion, a P/E ratio of 56.57 and a beta of 1.62.

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 the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The company’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts forecast that TechnipFMC will post 1.16 EPS for the current year.

TechnipFMC Announces Dividend

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

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust bought a new stake in shares of TechnipFMC during the 3rd quarter valued at about $29,000. Whittier Trust Co. bought a new stake in TechnipFMC during the 1st quarter valued at approximately $29,000. Johnson Financial Group Inc. purchased a new position in shares of TechnipFMC during the 4th quarter worth approximately $33,000. Quarry LP raised its position in shares of TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 768 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of TechnipFMC in the 4th quarter valued at approximately $45,000. 96.58% of the stock is currently owned by institutional investors.

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.