TechnipFMC (NYSE:FTI) Price Target Increased to $28.50 by Analysts at Bank of America

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

Other equities analysts also recently issued research reports about the company. Barclays raised their target price on TechnipFMC from $32.00 to $33.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. HSBC downgraded TechnipFMC from a buy rating to a hold rating and set a $23.60 target price on the stock. in a research report on Friday, February 23rd. Benchmark restated a buy rating and issued a $30.00 target price (up previously from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. TD Cowen raised their target price on TechnipFMC from $26.00 to $28.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Finally, StockNews.com downgraded TechnipFMC from a buy rating to a hold rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, TechnipFMC presently has a consensus rating of Moderate Buy and a consensus target price of $25.34.

TechnipFMC Stock Performance

Shares of FTI stock opened at $25.48 on Monday. The company has a market capitalization of $11.14 billion, a P/E ratio of 212.35 and a beta of 1.65. The business’s 50 day moving average is $23.05 and its two-hundred day moving average is $21.19. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. TechnipFMC has a 12-month low of $12.64 and a 12-month high of $27.26.

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

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.78%. TechnipFMC’s dividend payout ratio (DPR) is 166.68%.

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction 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 completion of the sale, the director now 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 SEC, which is available through this hyperlink. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of the company. Harbour Investments Inc. increased its holdings in TechnipFMC by 366.7% during the 3rd quarter. Harbour Investments Inc. now owns 1,400 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,100 shares during the period. Parkside Financial Bank & Trust acquired a new position in shares of TechnipFMC during the 3rd quarter worth about $29,000. Johnson Financial Group Inc. acquired a new position in shares of TechnipFMC during the 4th quarter worth about $33,000. Quarry LP boosted its position in shares of TechnipFMC by 76.6% during the 4th 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of TechnipFMC during the 4th quarter worth about $45,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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.