TechnipFMC (NYSE:FTI) Price Target Raised to $40.00

TechnipFMC (NYSE:FTI) had its target price boosted by Piper Sandler from $39.00 to $40.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other brokerages have also recently commented on FTI. The Goldman Sachs Group started coverage on TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Citigroup boosted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays boosted their price objective on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $36.23.

TechnipFMC Price Performance

FTI stock opened at $29.42 on Friday. The stock has a 50-day moving average price of $30.61 and a two-hundred day moving average price of $28.61. The company has a market cap of $12.52 billion, a PE ratio of 19.36 and a beta of 1.52. TechnipFMC has a 12-month low of $21.36 and a 12-month high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is currently 10.42%.

Institutional Trading of TechnipFMC

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in TechnipFMC during the fourth quarter valued at approximately $46,000. Smartleaf Asset Management LLC raised its stake in TechnipFMC by 55.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,338 shares during 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.