TechnipFMC (NYSE:FTI) Given New $47.00 Price Target at Royal Bank Of Canada

TechnipFMC (NYSE:FTI) had its price target boosted by Royal Bank Of Canada from $40.00 to $47.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have an outperform rating on the oil and gas company’s stock.

Several other research firms also recently weighed in on FTI. Piper Sandler lifted their target price on TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup reiterated a “buy” rating and set a $41.00 target price (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Evercore ISI raised their price target on TechnipFMC from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, Barclays raised their price target on TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $44.14.

TechnipFMC Price Performance

NYSE FTI opened at $41.13 on Tuesday. The company has a market capitalization of $16.64 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. The business’s fifty day moving average is $38.18 and its 200 day moving average is $34.35. TechnipFMC has a fifty-two week low of $22.11 and a fifty-two week high of $41.56.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. Sell-side analysts predict that TechnipFMC will post 1.63 earnings per share for the current year.

TechnipFMC announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, November 18th. TechnipFMC’s payout ratio is 8.93%.

Insider Transactions at TechnipFMC

In other news, insider Thierry Conti sold 50,000 shares of TechnipFMC stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.64, for a total value of $1,932,000.00. Following the sale, the insider directly owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. The trade was a 47.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the completion of the sale, the chief financial officer directly owned 241,140 shares in the company, valued at $9,310,415.40. This trade represents a 32.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 876,603 shares of company stock valued at $33,832,588. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechnipFMC

Large investors have recently made changes to their positions in the company. Diversified Trust Co increased its holdings in TechnipFMC by 0.8% in the 2nd quarter. Diversified Trust Co now owns 40,830 shares of the oil and gas company’s stock valued at $1,406,000 after purchasing an additional 306 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Financial Network Wealth Advisors LLC increased its holdings in TechnipFMC by 29.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 346 shares during the last quarter. Diversify Advisory Services LLC increased its holdings in TechnipFMC by 5.1% in the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 362 shares during the last quarter. Finally, Gries Financial LLC increased its holdings in TechnipFMC by 6.2% in the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 391 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

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.