TechnipFMC (NYSE:FTI) Price Target Lowered to $85.00 at Susquehanna

TechnipFMC (NYSE:FTI) had its target price decreased by Susquehanna from $90.00 to $85.00 in a report released on Wednesday morning, MarketBeat Ratings reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the company. UBS Group set a $80.00 price objective on TechnipFMC in a research note on Wednesday, June 3rd. Piper Sandler upped their price target on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Citigroup lifted their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Royal Bank Of Canada increased their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Price Performance

FTI opened at $70.43 on Wednesday. TechnipFMC has a 12-month low of $31.88 and a 12-month high of $77.78. The firm has a market capitalization of $28.08 billion, a P/E ratio of 26.88, a PEG ratio of 1.46 and a beta of 0.70. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $69.50 and a 200-day moving average of $63.93.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that TechnipFMC will post 2.98 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is 7.63%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. bought a new stake in shares of TechnipFMC during the fourth quarter worth $833,000. Harbor Capital Advisors Inc. bought a new position in TechnipFMC during the 4th quarter worth about $641,000. Fisher Asset Management LLC raised its stake in shares of TechnipFMC by 7.1% in the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock valued at $18,200,000 after purchasing an additional 27,111 shares during the period. Archford Capital Strategies LLC bought a new stake in shares of TechnipFMC in the fourth quarter valued at about $1,691,000. Finally, Danske Bank A S bought a new stake in shares of TechnipFMC in the third quarter valued at about $52,848,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Company Profile

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.