Susquehanna Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its price objective upped by Susquehanna from $82.00 to $83.00 in a report released on Tuesday,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Several other brokerages also recently commented on FTI. Piper Sandler increased their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. UBS Group set a $70.00 price objective on shares of TechnipFMC in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and upped their target price for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Finally, The Goldman Sachs Group upped their target price on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.27.

TechnipFMC Stock Performance

NYSE:FTI opened at $73.19 on Tuesday. The stock’s 50-day simple moving average is $64.20 and its 200 day simple moving average is $51.06. The firm has a market capitalization of $29.39 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC has a twelve month low of $22.11 and a twelve month high of $73.29.

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 17th. TechnipFMC’s payout ratio is 8.66%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO David Light sold 6,622 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the completion of the sale, the chief accounting officer owned 5,005 shares in the company, valued at $312,462.15. This trade represents a 56.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,216,442 shares of company stock worth $75,762,414. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its position in shares of TechnipFMC by 9.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 42,793 shares of the oil and gas company’s stock valued at $1,907,000 after buying an additional 3,689 shares during the last quarter. World Investment Advisors bought a new stake in shares of TechnipFMC during the 4th quarter valued at about $207,000. DUTCH ASSET Corp bought a new stake in shares of TechnipFMC during the 4th quarter valued at about $657,000. Corient Private Wealth LLC boosted its position in shares of TechnipFMC by 95.7% during the 4th quarter. Corient Private Wealth LLC now owns 14,326 shares of the oil and gas company’s stock valued at $641,000 after purchasing an additional 7,004 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. bought a new stake in shares of TechnipFMC during the 4th quarter valued at about $197,000. 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.