TechnipFMC (NYSE:FTI) Downgraded by StockNews.com

TechnipFMC (NYSE:FTI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities analysts also recently issued reports on FTI. Susquehanna boosted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Citigroup boosted their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

TechnipFMC Stock Performance

Shares of NYSE:FTI traded up $0.52 during trading on Tuesday, hitting $25.49. 4,638,024 shares of the company traded hands, compared to its average volume of 4,077,679. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 54.22 and a beta of 1.50. The business’s fifty day moving average is $26.56 and its 200-day moving average is $25.76. TechnipFMC has a one year low of $18.33 and a one year high of $29.85. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, equities analysts predict that TechnipFMC will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of TechnipFMC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. acquired a new position in shares of TechnipFMC during the fourth quarter worth approximately $830,000. Norden Group LLC increased its position in TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after acquiring an additional 366,266 shares during the period. Vanguard Group Inc. raised its stake in TechnipFMC by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after purchasing an additional 126,247 shares during the last quarter. Edgestream Partners L.P. bought a new stake in TechnipFMC in the 1st quarter valued at $965,000. Finally, Balyasny Asset Management L.P. grew its position in TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares in the last quarter. 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.