Wall Street Zen Upgrades TechnipFMC (NYSE:FTI) to “Buy”

Wall Street Zen upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a report issued on Saturday.

Several other analysts also recently commented on the stock. Sanford C. Bernstein downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a report on Thursday, May 22nd. Royal Bank Of Canada upped their price objective on shares of TechnipFMC from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Friday. BTIG Research downgraded shares of TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Evercore ISI increased their price target on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Citigroup reissued a “buy” rating and set a $41.00 price target (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.92.

TechnipFMC Stock Up 1.0%

FTI stock opened at $36.83 on Friday. The firm’s fifty day simple moving average is $33.47 and its 200-day simple moving average is $30.58. The company has a market capitalization of $15.44 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $38.05.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. As a group, equities research analysts forecast that TechnipFMC will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC’s dividend payout ratio is presently 9.43%.

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in TechnipFMC by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company’s stock worth $46,360,000 after acquiring an additional 8,823 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in TechnipFMC during the first quarter worth $205,000. Stephens Investment Management Group LLC raised its position in TechnipFMC by 0.8% during the first quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company’s stock worth $109,001,000 after acquiring an additional 27,884 shares during the period. New York State Teachers Retirement System acquired a new position in TechnipFMC during the first quarter worth $33,000. Finally, Farther Finance Advisors LLC raised its position in shares of TechnipFMC by 346.7% in the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company’s stock valued at $92,000 after buying an additional 2,219 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Company Profile

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.