Bank of America Raises TechnipFMC (NYSE:FTI) Price Target to $28.50

TechnipFMC (NYSE:FTI) had its price objective increased by Bank of America from $24.00 to $28.50 in a research report sent to investors on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Benchmark reissued a buy rating and set a $30.00 price objective (up from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. TD Cowen raised their price objective on TechnipFMC from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. ATB Capital set a $30.00 price objective on TechnipFMC and gave the stock an outperform rating in a research report on Friday, December 22nd. Barclays raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Finally, StockNews.com downgraded TechnipFMC from a buy rating to a hold rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $25.34.

TechnipFMC Stock Up 0.2 %

Shares of FTI opened at $25.32 on Monday. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26. The company has a market capitalization of $11.07 billion, a PE ratio of 211.00 and a beta of 1.65. The stock has a fifty day simple moving average of $23.30 and a two-hundred day simple moving average of $21.25. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32.

TechnipFMC (NYSE:FTI) last issued its 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. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the company earned ($0.05) EPS. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, equities analysts forecast that TechnipFMC will post 1.15 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, March 18th. TechnipFMC’s payout ratio is presently 166.67%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC 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 transaction, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. lifted its stake in TechnipFMC by 366.7% during the third 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 last quarter. Parkside Financial Bank & Trust purchased a new stake in TechnipFMC during the third quarter worth approximately $29,000. Johnson Financial Group Inc. purchased a new stake in TechnipFMC during the fourth quarter worth approximately $33,000. Quarry LP lifted its stake in TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in TechnipFMC during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.