TechnipFMC (NYSE:FTI) Price Target Raised to $76.00

TechnipFMC (NYSE:FTI) had its target price upped by Citigroup from $48.00 to $76.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

FTI has been the subject of a number of other research reports. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Susquehanna increased their target price on TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a research note on Friday, February 20th. BMO Capital Markets upped their target price on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, February 23rd. Jefferies Financial Group upped their price target on TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Barclays reiterated an “overweight” rating and issued a $69.00 target price on shares of TechnipFMC in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.93.

TechnipFMC Stock Performance

Shares of FTI opened at $66.26 on Thursday. The stock has a 50 day moving average price of $54.51 and a 200 day moving average price of $45.38. TechnipFMC has a 52-week low of $22.11 and a 52-week high of $67.55. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $26.51 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.27 and a beta of 0.69.

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

TechnipFMC Announces Dividend

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

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 6,350 shares of TechnipFMC stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the transaction, the director owned 97,860 shares of the company’s stock, valued at $6,400,044. This trade represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Trading of TechnipFMC

Several institutional investors have recently modified their holdings of FTI. Focus Partners Wealth raised its position in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% during the first 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. Sivia Capital Partners LLC increased its stake in shares of TechnipFMC by 76.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after buying an additional 6,381 shares during the period. Transcend Capital Advisors LLC bought a new stake in TechnipFMC during the 2nd quarter worth about $310,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in TechnipFMC in the second quarter valued at approximately $1,077,000. Institutional investors and hedge funds 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.