TechnipFMC (NYSE:FTI) Price Target Raised to $87.00

TechnipFMC (NYSE:FTI) had its price target boosted by Barclays from $70.00 to $87.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

Several other analysts have also recently weighed in on the company. Susquehanna lifted their price target on TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a report on Friday, May 1st. BMO Capital Markets lifted their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Wednesday. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group lifted their price target on TechnipFMC from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.53.

TechnipFMC Stock Performance

FTI opened at $70.18 on Friday. TechnipFMC has a 12-month low of $28.87 and a 12-month high of $77.78. The stock has a market cap of $27.98 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.42 and a beta of 0.74. The business has a 50 day moving average of $69.62 and a 200-day moving average of $56.04. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. On average, equities research analysts expect that TechnipFMC will post 2.93 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th will be paid 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 is Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

Insider Activity

In other TechnipFMC news, insider Jonathan Landes sold 116,194 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the transaction, the insider owned 71,356 shares in the company, valued at $4,438,343.20. This trade represents a 61.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alf Melin sold 83,721 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.83, for a total value of $5,176,469.43. Following the transaction, the chief financial officer owned 282,537 shares in the company, valued at approximately $17,469,262.71. This trade represents a 22.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,216,442 shares of company stock worth $75,762,414. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently added to or reduced their stakes in FTI. V Square Quantitative Management LLC bought a new position in TechnipFMC during the 1st quarter worth $26,000. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC in the 4th quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 340 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new position in shares of TechnipFMC in the 1st quarter valued at $37,000. 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.