TechnipFMC (NYSE:FTI) Price Target Raised to $88.00

TechnipFMC (NYSE:FTI) had its price objective lifted by Piper Sandler from $85.00 to $88.00 in a research report report published on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas company’s stock.

FTI has been the subject of a number of other reports. Barclays boosted their target price on shares of TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup increased their price target on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Weiss Ratings lowered shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 30th. Susquehanna dropped their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Finally, UBS Group initiated coverage on TechnipFMC in a report on Monday, October 12th. They set a “buy” rating and a $89.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.18.

TechnipFMC Stock Performance

NYSE:FTI opened at $61.64 on Tuesday. TechnipFMC has a 1 year low of $41.73 and a 1 year high of $80.70. The firm has a 50 day moving average of $71.43 and a 200-day moving average of $69.26. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $23.97 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.01 and a beta of 0.89.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.79 billion. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.75 EPS. As a group, sell-side analysts anticipate that TechnipFMC will post 3.28 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Tuesday, November 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, November 17th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.29%.

Insiders Place Their Bets

In related news, Director Eric Mullins acquired 6,365 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thierry Conti sold 6,000 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CENTRAL TRUST Co increased its stake in TechnipFMC by 18.8% in the third quarter. CENTRAL TRUST Co now owns 6,717 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 1,063 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of TechnipFMC by 1.6% during the 3rd quarter. Fifth Third Bancorp now owns 17,694 shares of the oil and gas company’s stock worth $1,202,000 after purchasing an additional 271 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of TechnipFMC by 11.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 23,688 shares of the oil and gas company’s stock valued at $1,609,000 after buying an additional 2,499 shares during the period. Ritholtz Wealth Management grew its stake in shares of TechnipFMC by 66.3% in the 3rd quarter. Ritholtz Wealth Management now owns 37,962 shares of the oil and gas company’s stock valued at $2,578,000 after buying an additional 15,138 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of TechnipFMC by 232.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 139,790 shares of the oil and gas company’s stock valued at $9,495,000 after buying an additional 97,776 shares during the period. 96.58% of the stock is owned by institutional investors.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.