TechnipFMC (NYSE:FTI) Lowered to Hold at StockNews.com

TechnipFMC (NYSE:FTI) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Other equities analysts also recently issued reports about the company. Citigroup raised their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Susquehanna raised their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $29.38.

TechnipFMC Price Performance

Shares of FTI traded up $0.52 during mid-day trading on Tuesday, hitting $25.49. The company’s stock had a trading volume of 4,638,024 shares, compared to its average volume of 4,077,679. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $26.56 and a 200 day simple moving average of $25.76. The firm has a market capitalization of $10.98 billion, a P/E ratio of 54.22 and a beta of 1.50. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Analysts predict that TechnipFMC will post 1.34 EPS for the current fiscal year.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the sale, the chief accounting officer now owns 11,534 shares in the company, valued at $297,692.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. acquired a new position in shares of TechnipFMC during the fourth quarter worth about $830,000. Norden Group LLC increased its position in shares of TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after acquiring an additional 366,266 shares during the last quarter. Vanguard Group Inc. increased its position in shares of TechnipFMC by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after acquiring an additional 126,247 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of TechnipFMC during the first quarter worth about $965,000. Finally, Balyasny Asset Management L.P. increased its position in shares of TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after acquiring an additional 2,808,618 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.