TechnipFMC’s (FTI) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of TechnipFMC (NYSE:FTI) in a research note issued to investors on Monday,Benzinga reports. Royal Bank of Canada currently has a $37.00 price target on the oil and gas company’s stock.

FTI has been the subject of several other reports. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Barclays raised their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday. Susquehanna lowered their target price on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

TechnipFMC Trading Up 1.4 %

Shares of NYSE FTI opened at $28.74 on Monday. TechnipFMC has a twelve month low of $22.12 and a twelve 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. The stock has a fifty day simple moving average of $27.48 and a 200-day simple moving average of $28.92. The stock has a market capitalization of $12.09 billion, a PE ratio of 18.91 and a beta of 1.11.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that TechnipFMC will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Tuesday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 10.42%.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares of the company’s stock, valued at approximately $3,004,301.76. The trade was a 8.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Trading of TechnipFMC

Institutional investors and hedge funds have recently bought and sold shares of the business. Mutual Advisors LLC increased its stake in TechnipFMC by 7.7% during the 1st quarter. Mutual Advisors LLC now owns 12,707 shares of the oil and gas company’s stock worth $403,000 after buying an additional 912 shares during the period. Acuitas Investments LLC increased its position in shares of TechnipFMC by 13.4% in the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 400 shares during the last quarter. Peregrine Capital Management LLC increased its position in shares of TechnipFMC by 3.4% in the 1st quarter. Peregrine Capital Management LLC now owns 369,011 shares of the oil and gas company’s stock worth $11,694,000 after purchasing an additional 12,033 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC in the 1st quarter worth about $33,000. Finally, Amalgamated Bank increased its position in shares of TechnipFMC by 4.0% in the 1st quarter. Amalgamated Bank now owns 22,493 shares of the oil and gas company’s stock worth $713,000 after purchasing an additional 861 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.