TechnipFMC (NYSE:FTI) Price Target Raised to $82.00 at Susquehanna

TechnipFMC (NYSE:FTI) had its target price upped by Susquehanna from $71.00 to $82.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on FTI. Weiss Ratings reiterated 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 raised their target price for the company from $49.00 to $62.00 in a research note on Friday, February 20th. Citigroup upped their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Barclays reiterated an “overweight” rating and issued a $69.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. Finally, TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.20.

TechnipFMC Trading Up 1.0%

NYSE:FTI opened at $70.83 on Wednesday. The company has a 50-day moving average price of $61.13 and a 200-day moving average price of $49.04. The stock has a market cap of $28.44 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 1.29 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $71.49.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. TechnipFMC’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts predict that TechnipFMC will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is 8.66%.

Insiders Place Their Bets

In other news, CFO Alf Melin sold 43,554 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02. Following the sale, the chief financial officer directly owned 238,983 shares of the company’s stock, valued at approximately $15,086,996.79. This represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO David Light sold 6,622 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the transaction, the chief accounting officer owned 5,005 shares of the company’s stock, valued at $312,462.15. The trade was a 56.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,216,442 shares of company stock valued at $75,762,414. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTI. Blue Trust Inc. lifted its stake in shares of TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after buying an additional 657 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its position 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 acquiring an additional 340 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC during the 4th quarter valued at $41,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.