TechnipFMC (NYSE:FTI) Price Target Increased to $31.00 by Analysts at Bank of America

TechnipFMC (NYSE:FTI) had its target price hoisted by Bank of America from $30.00 to $31.00 in a research note issued to investors on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

A number of other research analysts also recently issued reports on the stock. Citigroup boosted their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. BMO Capital Markets boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a market perform rating in a research report on Thursday, October 10th. Susquehanna boosted their target price 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. Finally, StockNews.com lowered shares of TechnipFMC from a buy rating to a hold rating in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $30.74.

TechnipFMC Trading Down 1.7 %

Shares of TechnipFMC stock opened at $27.18 on Monday. The firm has a market capitalization of $11.71 billion, a PE ratio of 57.83 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $26.17 and its 200 day moving average is $26.20. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping 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 firm 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 firm posted $0.10 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities research analysts forecast that TechnipFMC will post 1.37 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.74%. TechnipFMC’s payout ratio is currently 42.55%.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC lifted its holdings in TechnipFMC by 3.2% during the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 421 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in shares of TechnipFMC by 5.1% during the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after acquiring an additional 433 shares in the last quarter. GAMMA Investing LLC raised its stake 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 acquiring an additional 492 shares in the last quarter. Creative Planning raised its stake in shares of TechnipFMC by 3.2% during the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after acquiring an additional 546 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of TechnipFMC by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock worth $702,000 after buying an additional 616 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

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.