TechnipFMC (NYSE:FTI) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks reports.

FTI has been the topic of several other research reports. Susquehanna dropped their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Citigroup increased their target price on TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.08.

TechnipFMC Price Performance

Shares of FTI opened at $70.08 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a market cap of $27.48 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.13 and a beta of 0.83. TechnipFMC has a 52 week low of $35.29 and a 52 week high of $80.70. The stock has a 50 day moving average of $73.99 and a 200-day moving average of $71.81.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, analysts forecast that TechnipFMC will post 3.2 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.

Insiders Place Their Bets

In other news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the completion of the sale, the insider directly owned 85,813 shares of the company’s stock, valued at $6,165,664.05. The trade was a 6.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of TechnipFMC in the first quarter worth about $26,000. Coppell Advisory Solutions LLC acquired a new position in TechnipFMC in the 2nd quarter worth approximately $35,000. Ascentis Independent Advisors purchased a new position in TechnipFMC during the 1st quarter worth approximately $37,000. Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC during the second quarter valued at $37,000. Finally, Ameritas Advisory Services LLC purchased a new stake in TechnipFMC in the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.