TechnipFMC (NYSE:FTI) Given New $35.00 Price Target at Susquehanna

TechnipFMC (NYSE:FTI) had its price objective raised by Susquehanna from $34.00 to $35.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a positive rating on the oil and gas company’s stock.

Several other equities analysts have also recently weighed in on FTI. Benchmark reiterated a buy rating and issued a $30.00 price target on shares of TechnipFMC in a research report on Friday, April 26th. Citigroup lifted their target price on TechnipFMC from $31.00 to $32.00 and gave the company a buy rating in a report on Wednesday, July 10th. Barclays increased their price target on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an overweight rating in a report on Monday, April 29th. Piper Sandler boosted their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the company an overweight rating in a research note on Monday, May 6th. Finally, StockNews.com raised shares of TechnipFMC from a hold rating to a buy rating in a report on Sunday, April 28th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, TechnipFMC currently has a consensus rating of Moderate Buy and a consensus price target of $28.62.

TechnipFMC Stock Up 1.7 %

Shares of NYSE FTI opened at $28.87 on Friday. The business’s fifty day moving average price is $26.03 and its 200-day moving average price is $24.07. TechnipFMC has a one year low of $17.36 and a one year high of $29.24. The stock has a market capitalization of $12.44 billion, a PE ratio of 61.43 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.87.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities research analysts anticipate that TechnipFMC will post 1.2 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s payout ratio is currently 42.55%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 5,928 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the transaction, the chief accounting officer now owns 11,534 shares in the company, valued at approximately $297,692.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is currently owned by company insiders.

Institutional Trading of TechnipFMC

Hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in TechnipFMC by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after purchasing an additional 3,259,348 shares during the period. Vanguard Group Inc. increased its position in TechnipFMC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after buying an additional 134,880 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in TechnipFMC by 2.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock worth $70,864,000 after acquiring an additional 85,451 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of TechnipFMC by 868.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after acquiring an additional 2,808,618 shares during the last quarter. Finally, Norges Bank bought a new position in shares of TechnipFMC during the fourth quarter valued at $61,570,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.