TechnipFMC (NYSE:FTI) Trading 6.8% Higher – Should You Buy?

TechnipFMC plc (NYSE:FTI) shares rose 6.8% during trading on Thursday . The company traded as high as $26.77 and last traded at $26.74. Approximately 1,779,589 shares were traded during trading, a decline of 55% from the average daily volume of 3,965,722 shares. The stock had previously closed at $25.03.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Susquehanna lowered their price target on TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a report on Monday, April 14th. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Barclays lifted their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Evercore ISI upped their target price on shares of TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.31.

TechnipFMC Stock Up 3.1 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market capitalization of $11.93 billion, a P/E ratio of 18.66 and a beta of 1.11. The stock has a fifty day moving average price of $27.52 and a 200 day moving average price of $28.89.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. On average, research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Tuesday, May 20th. TechnipFMC’s payout ratio is presently 10.42%.

Insider Buying and Selling at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. The trade was a 57.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the sale, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FTI. New York State Teachers Retirement System bought a new stake in shares of TechnipFMC in the 1st quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its stake in shares of TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of TechnipFMC in the 4th quarter valued at about $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC in the fourth quarter valued at approximately $46,000. Finally, EverSource Wealth Advisors LLC grew its holdings in TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,338 shares during the period. Hedge funds and other institutional investors 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.