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

TechnipFMC plc (NYSE:FTI)’s stock price shot up 4.2% on Thursday following a stronger than expected earnings report. The company 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 (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.75%. The ex-dividend date is Monday, May 20th. TechnipFMC’s dividend payout ratio is presently 42.55%.

Analyst Ratings Changes

Several equities research analysts have weighed in on FTI shares. Susquehanna increased their target price on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research report on Friday. TD Cowen increased their target price on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America increased their target price on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, Benchmark restated a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.07.

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust purchased a new position in TechnipFMC during the 3rd quarter valued at about $29,000. Johnson Financial Group Inc. purchased a new position in TechnipFMC during the 4th quarter valued at about $33,000. Quarry LP grew its stake in TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in TechnipFMC during the 4th quarter valued at about $45,000. Finally, Systematic Alpha Investments LLC purchased a new position in TechnipFMC during the 3rd quarter valued at about $146,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.16. The company has a 50 day simple moving average of $24.21 and a two-hundred day simple moving average of $21.54. The company has a market cap of $11.62 billion, a PE ratio of 56.57 and a beta of 1.65.

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.