TechnipFMC (NYSE:FTI) Lowered to “Hold” Rating by Wall Street Zen

TechnipFMC (NYSE:FTI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also issued reports about the company. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and raised their price objective for the company from $49.00 to $62.00 in a research note on Friday, February 20th. BMO Capital Markets increased their price target on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Piper Sandler raised their price target on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Barclays reaffirmed an “overweight” rating and set a $69.00 price objective on shares of TechnipFMC in a research note on Friday, February 20th. Finally, TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.20.

TechnipFMC Price Performance

FTI stock opened at $70.99 on Friday. TechnipFMC has a 52 week low of $22.11 and a 52 week high of $72.59. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $63.51 and a two-hundred day simple moving average of $50.44. The firm has a market capitalization of $28.51 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71.

TechnipFMC (NYSE:FTI) last posted its earnings results on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. Analysts anticipate that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. This trade represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president directly owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. This trade represents a 37.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,216,442 shares of company stock valued at $75,762,414. Insiders own 1.80% of the company’s stock.

Institutional Trading of TechnipFMC

A number of large investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank bought a new stake in shares of TechnipFMC in the 4th quarter valued at about $205,468,000. Invesco Ltd. grew its position in shares of TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after buying an additional 4,437,960 shares during the last quarter. AQR Capital Management LLC grew its position in shares of TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after buying an additional 3,549,839 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of TechnipFMC by 184.0% during the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock worth $189,460,000 after acquiring an additional 3,111,399 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.