Susquehanna Raises TechnipFMC (NYSE:FTI) Price Target to $34.00

TechnipFMC (NYSE:FTI) had its target price boosted by Susquehanna from $27.00 to $34.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a positive rating on the oil and gas company’s stock.

FTI has been the subject of a number of other reports. Benchmark restated a buy rating and set a $30.00 price target (up from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. Barclays upped their target price on TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. StockNews.com downgraded TechnipFMC from a buy rating to a hold rating in a research report on Saturday, April 20th. Bank of America raised their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a research note on Monday, April 15th. Finally, HSBC cut shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 price target for the company. in a research note on Friday, February 23rd. Four 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, TechnipFMC presently has a consensus rating of Moderate Buy and an average target price of $26.14.

TechnipFMC Stock Performance

NYSE:FTI opened at $26.61 on Friday. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26. The business’s fifty day moving average is $24.35 and its 200 day moving average is $21.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.87 and a current ratio of 1.16. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 56.62 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share 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 return on equity of 9.60% and a net margin of 2.61%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. Research analysts predict that TechnipFMC will post 1.15 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.75%. TechnipFMC’s payout ratio is 42.55%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $809,303,000 after acquiring an additional 30,323,011 shares during the last quarter. Invesco Ltd. raised its position in TechnipFMC by 75.7% during the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock valued at $263,809,000 after purchasing an additional 5,587,050 shares during the last quarter. American Century Companies Inc. lifted its holdings in TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock worth $108,048,000 after buying an additional 3,283,972 shares during the period. Norges Bank bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $61,570,000. Finally, Balyasny Asset Management L.P. increased its stake in shares of TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after buying an additional 2,808,618 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.