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

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

Other equities research analysts have also recently issued reports about the stock. Susquehanna reiterated a positive rating and issued a $27.00 price objective on shares of TechnipFMC in a report on Monday, April 8th. ATB Capital set a $30.00 price objective on shares of TechnipFMC and gave the stock an outperform rating in a report on Friday, December 22nd. Benchmark reiterated a buy rating and issued a $30.00 price objective (up from $25.00) on shares of TechnipFMC in a report on Monday, April 1st. HSBC cut shares of TechnipFMC from a buy rating to a hold rating and set a $23.60 price objective for the company. in a report on Friday, February 23rd. Finally, TD Cowen upped their price objective on shares of TechnipFMC from $26.00 to $28.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $25.34.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $25.48 on Monday. The company’s fifty day moving average is $23.05 and its two-hundred day moving average is $21.19. 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 has a 12-month low of $12.64 and a 12-month high of $27.26. The company has a market cap of $11.14 billion, a P/E ratio of 212.35 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the previous year, the business earned ($0.05) EPS. The company’s revenue was up 22.6% on a year-over-year basis. Equities analysts expect that TechnipFMC will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Tuesday, March 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Monday, March 18th. TechnipFMC’s dividend payout ratio is currently 166.68%.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in TechnipFMC by 320.3% in the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after purchasing an additional 30,323,011 shares in the last quarter. BlackRock Inc. raised its position in TechnipFMC by 87.8% in the second quarter. BlackRock Inc. now owns 19,869,072 shares of the oil and gas company’s stock worth $330,224,000 after purchasing an additional 9,287,344 shares in the last quarter. Alliancebernstein L.P. raised its position in TechnipFMC by 68,732.1% in the fourth quarter. Alliancebernstein L.P. now owns 7,053,918 shares of the oil and gas company’s stock worth $85,987,000 after purchasing an additional 7,043,670 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in TechnipFMC by 11.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,933,447 shares of the oil and gas company’s stock worth $718,398,000 after purchasing an additional 5,888,998 shares in the last quarter. Finally, Invesco Ltd. raised its position in TechnipFMC by 75.7% in the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after purchasing an additional 5,587,050 shares in the last quarter. Institutional investors and hedge funds 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.