TechnipFMC (NYSE:FTI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a report issued on Sunday morning.

Several other research analysts also recently commented on the company. Bank of America lifted their target price on TechnipFMC from $24.00 to $28.50 and gave the stock a buy rating in a report on Monday, April 15th. HSBC downgraded TechnipFMC from a buy rating to a hold rating and set a $23.60 target price for the company. in a research note on Friday, February 23rd. Barclays upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Susquehanna lifted their price objective on shares of TechnipFMC from $27.00 to $34.00 and gave the company a positive rating in a report on Friday, April 26th. Finally, Benchmark reaffirmed a buy rating and issued a $30.00 price target on shares of TechnipFMC in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $26.72.

TechnipFMC Price Performance

TechnipFMC stock opened at $25.35 on Friday. The business’s 50-day simple moving average is $24.46 and its 200 day simple moving average is $21.65. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 53.94 and a beta of 1.65. TechnipFMC has a 12-month low of $12.64 and a 12-month high of $27.26. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC will post 1.15 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be paid a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.79%. TechnipFMC’s dividend payout ratio is presently 42.55%.

Insider Activity

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in TechnipFMC by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after buying an additional 126,247 shares during the period. Invesco Ltd. grew its stake in TechnipFMC by 75.7% in the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after purchasing an additional 5,587,050 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of TechnipFMC by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,214,539 shares of the oil and gas company’s stock worth $207,764,000 after buying an additional 593,828 shares during the period. American Century Companies Inc. increased its stake in shares of TechnipFMC by 161.9% during the third quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after purchasing an additional 3,283,972 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of TechnipFMC by 68.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company’s stock worth $81,380,000 after purchasing an additional 1,629,170 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.