Citigroup Increases TechnipFMC (NYSE:FTI) Price Target to $32.00

TechnipFMC (NYSE:FTI) had its target price lifted by Citigroup from $31.00 to $32.00 in a research report sent to investors on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the oil and gas company’s stock.

A number of other research analysts have also commented on FTI. Bank of America raised their price target on TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a report on Monday, April 15th. Barclays lifted their target price on TechnipFMC from $33.00 to $34.00 and gave the stock an overweight rating in a report on Monday, April 29th. TD Cowen lifted their target price on TechnipFMC from $30.00 to $32.00 and gave the stock a buy rating in a report on Friday, April 26th. Piper Sandler lifted their target price on TechnipFMC from $30.00 to $34.00 and gave the stock an overweight rating in a report on Monday, May 6th. Finally, Susquehanna lifted their target price on TechnipFMC from $27.00 to $34.00 and gave the stock a positive rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of Moderate Buy and an average target price of $28.08.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $26.67 on Wednesday. The firm has a market capitalization of $11.49 billion, a PE ratio of 56.74 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. TechnipFMC has a 1-year low of $17.07 and a 1-year high of $27.30. The business’s fifty day moving average price is $25.74 and its two-hundred day moving average price is $23.51.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, research analysts expect that TechnipFMC will post 1.2 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st were given a $0.05 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors have recently made changes to their positions in the company. Brown Advisory Inc. bought a new position in TechnipFMC in the 4th quarter worth approximately $830,000. Norden Group LLC boosted its stake in TechnipFMC by 2,899.1% in the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after buying an additional 366,266 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in TechnipFMC in the 4th quarter valued at $37,976,000. Cerity Partners LLC acquired a new stake in TechnipFMC in the 4th quarter valued at $6,836,000. Finally, Natixis Advisors L.P. boosted its stake in TechnipFMC by 198.2% in the 4th quarter. Natixis Advisors L.P. now owns 160,804 shares of the oil and gas company’s stock valued at $3,238,000 after buying an additional 106,884 shares in the last quarter. 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.