Citigroup Raises TechnipFMC (NYSE:FTI) Price Target to $32.00

TechnipFMC (NYSE:FTI) had its price target boosted by Citigroup from $31.00 to $32.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other research firms have also issued reports on FTI. StockNews.com raised shares of TechnipFMC from a hold rating to a buy rating in a report on Sunday, April 28th. Benchmark reaffirmed a buy rating and set a $30.00 target price on shares of TechnipFMC in a report on Friday, April 26th. TD Cowen upped their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a buy rating in a report on Friday, April 26th. Barclays upped their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an overweight rating in a report on Monday, April 29th. Finally, Susquehanna upped their price objective on shares of TechnipFMC from $27.00 to $34.00 and gave the company a positive rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, TechnipFMC has an average rating of Moderate Buy and an average price target of $28.08.

TechnipFMC Stock Performance

NYSE:FTI opened at $26.67 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. The company has a fifty day moving average of $25.74 and a two-hundred day moving average of $23.51. The stock has a market capitalization of $11.49 billion, a PE ratio of 56.74 and a beta of 1.52. TechnipFMC has a fifty-two week low of $17.07 and a fifty-two week high of $27.30.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, research analysts forecast that TechnipFMC will post 1.2 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Monday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 5,928 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the transaction, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at $297,692.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.06% of the stock is currently owned by insiders.

Institutional Trading of TechnipFMC

Several hedge funds have recently made changes to their positions in FTI. Whittier Trust Co. acquired a new stake in shares of TechnipFMC during the first quarter worth about $29,000. GAMMA Investing LLC lifted its position in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of TechnipFMC during the fourth quarter worth about $33,000. Quarry LP lifted its position in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of TechnipFMC during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

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.