TechnipFMC (NYSE:FTI) Raised to Strong-Buy at UBS Group

TechnipFMC (NYSE:FTI) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 2nd. Susquehanna reduced their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Citigroup increased their target price on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $74.92.

TechnipFMC Trading Up 1.3%

Shares of NYSE FTI opened at $70.63 on Monday. TechnipFMC has a 1-year low of $35.29 and a 1-year high of $80.70. The business has a fifty day moving average price of $73.91 and a 200 day moving average price of $71.86. The stock has a market capitalization of $27.70 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 1.12 and a beta of 0.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Equities research analysts expect that TechnipFMC will post 3.20 EPS for the current fiscal year.

Insider Buying and Selling

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the transaction, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins purchased 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. purchased a new position in TechnipFMC in the 3rd quarter worth $827,000. GK Wealth Management LLC acquired a new stake in TechnipFMC during the 3rd quarter worth about $172,000. Wedmont Private Capital grew its stake in TechnipFMC by 16.3% during the 3rd quarter. Wedmont Private Capital now owns 5,140 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 722 shares during the last quarter. Journey Retirement Planning & Investment Management LLC grew its stake in TechnipFMC by 28.8% during the 3rd quarter. Journey Retirement Planning & Investment Management LLC now owns 5,083 shares of the oil and gas company’s stock valued at $345,000 after purchasing an additional 1,137 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in TechnipFMC by 6.3% during the 3rd quarter. GAMMA Investing LLC now owns 10,644 shares of the oil and gas company’s stock valued at $723,000 after purchasing an additional 628 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.