TechnipFMC (NYSE:FTI) Given New $34.00 Price Target at Piper Sandler

TechnipFMC (NYSE:FTI) had its price objective increased by Piper Sandler from $30.00 to $34.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Several other equities research analysts also recently issued reports on FTI. TD Cowen raised their price target on TechnipFMC from $30.00 to $32.00 and gave the stock a buy rating in a report on Friday, April 26th. Bank of America lifted their target price on TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a report on Monday, April 15th. Benchmark restated a buy rating and issued a $30.00 price objective on shares of TechnipFMC in a research report on Friday, April 26th. Susquehanna upped their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a positive rating in a report on Friday, April 26th. Finally, Barclays raised their price target on shares of TechnipFMC from $33.00 to $34.00 and gave the company an overweight rating in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of Moderate Buy and a consensus price target of $27.21.

TechnipFMC Stock Performance

NYSE FTI traded up $0.08 on Monday, hitting $26.44. 135,313 shares of the stock traded hands, compared to its average volume of 4,582,603. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 56.06 and a beta of 1.62. The business’s fifty day moving average is $24.83 and its two-hundred day moving average is $21.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. TechnipFMC has a 12 month low of $13.11 and a 12 month high of $27.26.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts anticipate that TechnipFMC will post 1.16 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

Insider Buying and Selling

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. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Inceptionr LLC grew its position in TechnipFMC by 2.2% in the 4th quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 540 shares during the period. State Board of Administration of Florida Retirement System increased its position in TechnipFMC by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock valued at $2,571,000 after acquiring an additional 660 shares during the last quarter. Fulton Bank N.A. lifted its holdings in TechnipFMC by 6.8% in the fourth quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock valued at $217,000 after acquiring an additional 683 shares during the period. Janney Capital Management LLC boosted its position in TechnipFMC by 2.8% in the third quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 722 shares during the last quarter. Finally, Dfpg Investments LLC increased its position in shares of TechnipFMC by 2.4% during the 4th quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock valued at $623,000 after purchasing an additional 738 shares during the last quarter. 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.