TechnipFMC (NYSE:FTI) Price Target Raised to $32.00 at TD Cowen

TechnipFMC (NYSE:FTI) had its price target increased by TD Cowen from $30.00 to $32.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

FTI has been the topic of a number of other reports. HSBC lowered shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 target price on the stock. in a report on Friday, February 23rd. Benchmark reiterated a buy rating and set a $30.00 target price on shares of TechnipFMC in a report on Friday. Barclays increased their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Bank of America raised their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a report on Monday, April 15th. Finally, StockNews.com lowered shares of TechnipFMC from a buy rating to a hold rating in a report on Saturday, April 20th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $26.07.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $26.59 on Friday. TechnipFMC has a 12-month low of $12.64 and a 12-month high of $27.26. The stock has a market cap of $11.62 billion, a PE ratio of 56.57 and a beta of 1.65. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $24.21 and a 200 day moving average of $21.54.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. The company’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts predict that TechnipFMC will post 1.15 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.06% of the company’s stock.

Institutional Trading of TechnipFMC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust acquired a new stake in shares of TechnipFMC in the third quarter valued at about $29,000. Johnson Financial Group Inc. acquired a new stake in shares of TechnipFMC in the fourth quarter valued at about $33,000. Quarry LP lifted its stake in shares of TechnipFMC by 76.6% in the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 768 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of TechnipFMC in the fourth quarter valued at about $45,000. Finally, Systematic Alpha Investments LLC acquired a new stake in shares of TechnipFMC in the third quarter valued at about $146,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.