Bank of America Boosts TechnipFMC (NYSE:FTI) Price Target to $28.50

TechnipFMC (NYSE:FTI) had its price objective hoisted by Bank of America from $24.00 to $28.50 in a research report released on Monday, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

Several other brokerages have also recently weighed in on FTI. Barclays raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Susquehanna reiterated a positive rating and set a $27.00 price objective on shares of TechnipFMC in a research note on Monday, April 8th. Benchmark reissued a buy rating and issued a $30.00 target price (up from $25.00) on shares of TechnipFMC in a research note on Monday, April 1st. ATB Capital set a $30.00 price target on shares of TechnipFMC and gave the stock an outperform rating in a research report on Friday, December 22nd. Finally, TD Cowen lifted their price objective on shares of TechnipFMC from $26.00 to $28.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $25.34.

TechnipFMC Trading Down 0.7 %

NYSE FTI opened at $25.16 on Monday. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 209.68 and a beta of 1.65. TechnipFMC has a 52 week low of $12.64 and a 52 week high of $27.26. The stock’s 50 day moving average price is $23.42 and its two-hundred day moving average price is $21.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 1.16.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.90 billion. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, analysts anticipate that TechnipFMC will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, March 18th. TechnipFMC’s dividend payout ratio is presently 166.68%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.06% of the stock is owned by corporate insiders.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $37,976,000. Cerity Partners LLC bought a new stake in shares of TechnipFMC during the 4th quarter valued at $6,836,000. SG Americas Securities LLC grew its holdings in shares of TechnipFMC by 71.1% during the 4th quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock worth $3,072,000 after purchasing an additional 63,378 shares in the last quarter. Syntal Capital Partners LLC acquired a new stake in shares of TechnipFMC during the 3rd quarter worth $665,000. Finally, Vanguard Group Inc. increased its position in shares of TechnipFMC by 320.3% in the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after purchasing an additional 30,323,011 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.