TechnipFMC (NYSE:FTI) Price Target Raised to $35.00

TechnipFMC (NYSE:FTI) had its price target upped by Susquehanna from $34.00 to $35.00 in a research note issued to investors on Friday, Benzinga reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Several other analysts have also recently weighed in on FTI. Barclays lifted their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an overweight rating in a research note on Monday, April 29th. TD Cowen boosted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the company a buy rating in a research report on Friday, April 26th. Benchmark restated a buy rating and issued a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. Piper Sandler boosted their target price on shares of TechnipFMC from $30.00 to $34.00 and gave the company an overweight rating in a research report on Monday, May 6th. Finally, Citigroup boosted their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $28.62.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $29.35 on Friday. TechnipFMC has a twelve month low of $17.51 and a twelve month high of $29.41. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $26.08 and a two-hundred day simple moving average of $24.22. The stock has a market capitalization of $12.65 billion, a price-to-earnings ratio of 62.45 and a beta of 1.52.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Analysts forecast that TechnipFMC will post 1.2 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s payout ratio is 42.55%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently added to or reduced their stakes in FTI. Price T Rowe Associates Inc. MD grew its holdings in TechnipFMC by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after acquiring an additional 3,259,348 shares during the last quarter. Norges Bank bought a new stake in shares of TechnipFMC in the 4th quarter valued at $61,570,000. Balyasny Asset Management L.P. boosted its stake in shares of TechnipFMC by 868.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after purchasing an additional 2,808,618 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of TechnipFMC in the 4th quarter valued at $37,976,000. Finally, TD Asset Management Inc boosted its stake in shares of TechnipFMC by 182.8% in the 4th quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock valued at $33,850,000 after purchasing an additional 1,086,400 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

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.