TechnipFMC plc (NYSE:FTI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of TechnipFMC plc (NYSE:FTI) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $69.7143.

Several research firms have weighed in on FTI. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Royal Bank Of Canada lifted their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and lifted their price objective for the company from $49.00 to $62.00 in a research report on Friday, February 20th. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets lifted their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director directly owned 59,887 shares of the company’s stock, valued at $4,151,366.84. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of TechnipFMC

Hedge funds have recently made changes to their positions in the stock. Savvy Advisors Inc. bought a new position in TechnipFMC in the 3rd quarter valued at approximately $708,000. Principal Financial Group Inc. increased its holdings in shares of TechnipFMC by 5,157.7% in the 3rd quarter. Principal Financial Group Inc. now owns 912,896 shares of the oil and gas company’s stock worth $36,014,000 after purchasing an additional 895,533 shares in the last quarter. Archford Capital Strategies LLC purchased a new position in shares of TechnipFMC in the fourth quarter worth $1,691,000. Asset Management One Co. Ltd. purchased a new position in shares of TechnipFMC in the fourth quarter worth $833,000. Finally, Farther Finance Advisors LLC raised its stake in shares of TechnipFMC by 394.3% in the fourth quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock worth $528,000 after purchasing an additional 9,451 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Performance

TechnipFMC stock opened at $70.70 on Friday. The stock’s 50 day simple moving average is $71.67 and its two-hundred day simple moving average is $61.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.52 and a beta of 0.69. TechnipFMC has a fifty-two week low of $31.88 and a fifty-two week high of $77.78.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. As a group, analysts expect that TechnipFMC will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s payout ratio is currently 7.63%.

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.