TechnipFMC (NYSE:FTI) Hits New 1-Year High at $27.30

TechnipFMC plc (NYSE:FTI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.30 and last traded at $27.19, with a volume of 703161 shares changing hands. The stock had previously closed at $26.60.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent research reports. Barclays raised their price target on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective for the company. in a report on Friday, February 23rd. Piper Sandler boosted their price objective on TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. Finally, Bank of America raised their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average price target of $27.21.

TechnipFMC Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The stock has a 50 day moving average price of $25.02 and a 200-day moving average price of $21.87. The stock has a market capitalization of $11.63 billion, a P/E ratio of 56.57 and a beta of 1.62.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC’s revenue was up 18.9% on a year-over-year basis. As a group, research analysts expect that TechnipFMC plc will post 1.16 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is currently 42.55%.

Insider Activity at TechnipFMC

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 stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of TechnipFMC

A number of hedge funds have recently made changes to their positions in FTI. Parkside Financial Bank & Trust bought a new stake in shares of TechnipFMC during the third quarter valued at approximately $29,000. Whittier Trust Co. purchased a new position in TechnipFMC in the 1st quarter worth about $29,000. Johnson Financial Group Inc. purchased a new stake in shares of TechnipFMC during the 4th quarter valued at about $33,000. Quarry LP grew 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 worth $36,000 after acquiring an additional 768 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in TechnipFMC during the fourth quarter valued at approximately $45,000. 96.58% of the stock is owned by 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.