TechnipFMC (NYSE:FTI) Trading Up 4.2% Following Strong Earnings

TechnipFMC plc (NYSE:FTI) traded up 4.2% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $26.85 and last traded at $26.79. 2,581,604 shares traded hands during trading, a decline of 45% from the average session volume of 4,653,382 shares. The stock had previously closed at $25.72.

The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year.

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research report on Friday. Barclays upped their price target on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. TD Cowen upped their price target on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Finally, HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. 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. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $26.07.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 approximately $2,204,418.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.06% of the stock is owned by company insiders.

Institutional Trading of TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of TechnipFMC in the fourth quarter worth approximately $37,976,000. Cerity Partners LLC bought a new position in shares of TechnipFMC in the fourth quarter valued at approximately $6,836,000. SG Americas Securities LLC grew its holdings in shares of TechnipFMC by 71.1% in the fourth quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock valued at $3,072,000 after acquiring an additional 63,378 shares in the last quarter. Syntal Capital Partners LLC bought a new position in shares of TechnipFMC in the third quarter valued at approximately $665,000. Finally, Vanguard Group Inc. grew its holdings 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 valued at $809,303,000 after acquiring an additional 30,323,011 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

The company has a market capitalization of $11.62 billion, a P/E ratio of 56.57 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.92. The firm has a fifty day moving average price of $24.21 and a 200-day moving average price of $21.54.

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.