TechnipFMC (NYSE:FTI) Trading Down 7.1% – Here’s What Happened

TechnipFMC plc (NYSE:FTI)’s stock price fell 7.1% during mid-day trading on Wednesday . The stock traded as low as $66.10 and last traded at $66.3710. 1,150,338 shares were traded during mid-day trading, a decline of 71% from the average session volume of 3,910,235 shares. The stock had previously closed at $71.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FTI shares. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and raised their price objective for the stock from $49.00 to $62.00 in a research report on Friday, February 20th. Citigroup raised their price objective on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. UBS Group set a $70.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Evercore restated an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.00.

TechnipFMC Price Performance

The company’s 50-day simple moving average is $71.58 and its 200-day simple moving average is $59.30. The stock has a market capitalization of $26.83 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Insider Activity at TechnipFMC

In other news, CEO Douglas J. Pferdehirt sold 733,424 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the transaction, the chief executive officer directly owned 2,411,852 shares of the company’s stock, valued at approximately $150,113,668.48. This trade represents a 23.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luana Duffe sold 47,951 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 1,210,092 shares of company stock valued at $75,347,124. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in TechnipFMC in the first quarter valued at approximately $26,000. Harbor Investment Advisory LLC bought a new position in TechnipFMC in the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC in the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its stake in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new position in TechnipFMC in the first quarter valued at approximately $37,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Company Profile

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.