TD Cowen Boosts TechnipFMC (NYSE:FTI) Price Target to $32.00

TechnipFMC (NYSE:FTI) had its target price lifted by TD Cowen from $30.00 to $32.00 in a report released on Friday, Benzinga reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

FTI has been the topic of several other research reports. StockNews.com cut shares of TechnipFMC from a buy rating to a hold rating in a research note on Saturday, April 20th. Barclays raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Benchmark reissued a buy rating and set a $30.00 target price on shares of TechnipFMC in a research note on Friday. Susquehanna raised their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the company a positive rating in a research note on Friday. Finally, Bank of America lifted their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a buy rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $26.07.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $26.59 on Friday. The company has a market cap of $11.62 billion, a PE ratio of 56.57 and a beta of 1.65. The company’s 50-day moving average price is $24.21 and its 200 day moving average price is $21.57. TechnipFMC has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.30.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The business’s revenue was up 18.9% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC will post 1.15 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the transaction, the director now directly 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 accessible through this hyperlink. 1.06% of the stock is currently owned by insiders.

Institutional Trading of TechnipFMC

Institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of TechnipFMC during the fourth quarter worth approximately $37,976,000. Cerity Partners LLC acquired a new stake in shares of TechnipFMC during the fourth quarter worth approximately $6,836,000. SG Americas Securities LLC boosted its holdings in shares of TechnipFMC by 71.1% during the fourth 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 during the period. Syntal Capital Partners LLC acquired a new stake in shares of TechnipFMC during the third quarter worth approximately $665,000. Finally, Vanguard Group Inc. boosted its holdings in shares of TechnipFMC by 320.3% during 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. 96.58% of the stock is currently 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.