TechnipFMC (NYSE:FTI) Stock Rating Lowered by Zacks Research

TechnipFMC (NYSE:FTI) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Weiss Ratings lowered TechnipFMC from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada lifted their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and upped their price objective for the company from $49.00 to $62.00 in a research note on Friday, February 20th. Finally, BMO Capital Markets boosted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.40.

TechnipFMC Stock Performance

TechnipFMC stock opened at $75.05 on Monday. The business has a 50 day moving average of $69.31 and a 200-day moving average of $55.53. The company has a market capitalization of $29.92 billion, a P/E ratio of 28.65, a P/E/G ratio of 1.51 and a beta of 0.74. TechnipFMC has a 1 year low of $28.87 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.

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

Insider Buying and Selling

In related news, CAO David Light sold 6,622 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $413,411.46. Following the transaction, the chief accounting officer owned 5,005 shares in the company, valued at $312,462.15. The trade was a 56.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the sale, the chief financial officer owned 238,983 shares of the company’s stock, valued at $15,086,996.79. The trade was a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,216,442 shares of company stock worth $75,762,414 over the last ninety days. 1.40% of the stock is owned by company insiders.

Institutional Trading of TechnipFMC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in TechnipFMC in the first quarter worth approximately $26,000. Harbor Investment Advisory LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the third quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the period. Finally, Ascentis Independent Advisors bought a new position in shares of TechnipFMC in the 1st quarter worth $37,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Company Profile

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.