TechnipFMC plc (NYSE:FTI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of TechnipFMC plc (NYSE:FTI) have been given an average recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $59.20.

FTI has been the subject of a number of research analyst reports. TD Cowen restated a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. Susquehanna increased their price target on TechnipFMC from $71.00 to $82.00 and gave the stock a “positive” rating in a research report on Wednesday, March 25th. Citigroup lifted their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Piper Sandler upped their target price on TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, Barclays restated an “overweight” rating and issued a $69.00 price target on shares of TechnipFMC in a research report on Friday, February 20th.

TechnipFMC Stock Up 0.1%

FTI stock opened at $71.25 on Monday. The company has a market cap of $28.61 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 1.31 and a beta of 0.70. TechnipFMC has a twelve month low of $22.11 and a twelve month high of $71.49. The business has a 50 day moving average price of $61.88 and a two-hundred day moving average price of $49.53. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that TechnipFMC will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be given a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is presently 8.66%.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, EVP Luana Duffe sold 47,951 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president directly owned 78,871 shares in the company, valued at $4,923,916.53. This represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 43,554 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total value of $2,749,564.02. Following the completion of the sale, the chief financial officer directly owned 238,983 shares in the company, valued at approximately $15,086,996.79. This represents a 15.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of FTI. AQR Capital Management LLC boosted its stake in TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after buying an additional 3,549,839 shares in the last quarter. State Street Corp raised its stake in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after acquiring an additional 4,938,498 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after acquiring an additional 4,437,960 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of TechnipFMC by 2.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after acquiring an additional 232,491 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of TechnipFMC by 2.0% in the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after purchasing an additional 192,549 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.