TechnipFMC plc (NYSE:FTI) Receives Consensus Rating of “Moderate Buy” from Brokerages

TechnipFMC plc (NYSE:FTI) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $46.6667.

FTI has been the subject of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Barclays upped their price target on shares of TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Piper Sandler raised their price objective on TechnipFMC from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Jefferies Financial Group lifted their price objective on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Citigroup increased their target price on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, October 29th.

Insider Transactions at TechnipFMC

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 632,539 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.62, for a total value of $24,428,656.18. Following the sale, the chief executive officer owned 2,917,054 shares of the company’s stock, valued at $112,656,625.48. This trade represents a 17.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 113,760 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the transaction, the chief financial officer owned 241,140 shares in the company, valued at $9,310,415.40. The trade was a 32.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 876,603 shares of company stock worth $33,832,588. Insiders own 1.80% of the company’s stock.

Institutional Trading of TechnipFMC

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its position in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 657 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. increased its stake in shares of TechnipFMC by 45.3% during 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 buying an additional 340 shares during the period. Huntington National Bank raised its holdings in shares of TechnipFMC by 317.8% during the third quarter. Huntington National Bank now owns 1,195 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 909 shares in the last quarter. Finally, McIlrath & Eck LLC raised its holdings in shares of TechnipFMC by 476.3% during the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,024 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $46.28 on Friday. The firm has a market capitalization of $18.72 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.10 and a beta of 0.68. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $47.33. The business’s 50-day moving average price is $41.89 and its 200-day moving average price is $37.90.

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, topping analysts’ consensus estimates of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $0.64 EPS. TechnipFMC’s quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts forecast that TechnipFMC will post 1.63 EPS for the current fiscal year.

TechnipFMC announced that its board has authorized a share repurchase plan on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is 8.93%.

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.