TechnipFMC (NYSE:FTI) Shares Gap Down to $26.83

TechnipFMC plc (NYSE:FTI) shares gapped down before the market opened on Thursday . The stock had previously closed at $26.83, but opened at $26.10. TechnipFMC shares last traded at $25.78, with a volume of 268,039 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FTI. Citigroup boosted their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Susquehanna raised their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.51.

TechnipFMC Trading Down 6.0 %

The stock has a market capitalization of $10.80 billion, a PE ratio of 57.10 and a beta of 1.50. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average is $26.49 and its two-hundred day moving average is $25.97.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business posted $0.10 earnings per share. TechnipFMC’s quarterly revenue was up 17.9% on a year-over-year basis. On average, analysts anticipate that TechnipFMC plc will post 1.34 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s payout ratio is 42.55%.

Hedge Funds Weigh In On TechnipFMC

Several institutional investors and hedge funds have recently bought and sold shares of FTI. Whittier Trust Co. acquired a new stake in TechnipFMC during the 1st quarter valued at $29,000. GAMMA Investing LLC boosted its stake in TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares during the last quarter. ORG Partners LLC bought a new position in TechnipFMC during the 2nd quarter valued at $33,000. Johnson Financial Group Inc. bought a new position in shares of TechnipFMC in the 4th quarter worth about $33,000. Finally, Quarry LP lifted its position in shares of TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after buying an additional 768 shares during 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.