TechnipFMC (NYSE:FTI) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of TechnipFMC (NYSE:FTI) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities analysts have also issued research reports about the company. Piper Sandler lifted their price target on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. UBS Group set a $80.00 price objective on TechnipFMC in a research note on Wednesday, June 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 14th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Performance

NYSE FTI opened at $69.28 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $27.62 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 1.50 and a beta of 0.72. The firm’s 50 day simple moving average is $69.45 and its 200 day simple moving average is $67.24. TechnipFMC has a 1 year low of $34.27 and a 1 year high of $77.92.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the firm posted $0.68 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts expect that TechnipFMC will post 3.02 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is presently 6.94%.

Hedge Funds Weigh In On TechnipFMC

Several large investors have recently bought and sold shares of FTI. Oppenheimer Asset Management Inc. bought a new stake in shares of TechnipFMC during the second quarter worth about $8,407,000. Hardy Reed LLC bought a new position in TechnipFMC in the 2nd quarter valued at approximately $1,315,000. Dockside LLC bought a new position in TechnipFMC in the 2nd quarter valued at approximately $6,164,000. Assenagon Asset Management S.A. acquired a new stake in TechnipFMC during the 2nd quarter worth approximately $1,327,000. Finally, GAMMA Investing LLC boosted its position in TechnipFMC by 11.0% during the 2nd quarter. GAMMA Investing LLC now owns 10,016 shares of the oil and gas company’s stock worth $664,000 after buying an additional 994 shares during the period. 96.58% of the stock is currently owned by institutional investors.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.