TechnipFMC (NYSE:FTI) Rating Lowered to Underperform at Bernstein Bank
Bernstein Bank cut shares of TechnipFMC (NYSE:FTI) to an underperform rating in a report issued on Tuesday, Stock Target Advisor reports.
Several other brokerages also recently issued reports on FTI. Deutsche Bank started coverage on shares of TechnipFMC in a research report on Wednesday, November 27th. They set a buy rating and a $33.00 price objective for the company. Citigroup upgraded shares of TechnipFMC from a neutral rating to a buy rating and set a $23.60 price objective for the company in a research report on Wednesday, December 11th. Barclays restated a hold rating on shares of TechnipFMC in a research report on Wednesday, November 6th. Sanford C. Bernstein downgraded shares of TechnipFMC from a market perform rating to an underperform rating in a research report on Monday. Finally, Wells Fargo & Co set a $30.00 price objective on shares of TechnipFMC and gave the stock a buy rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. TechnipFMC currently has a consensus rating of Buy and an average price target of $28.12.
TechnipFMC stock traded down $0.57 during midday trading on Tuesday, reaching $20.40. 1,962,159 shares of the company’s stock were exchanged, compared to its average volume of 3,455,878. The stock’s 50-day simple moving average is $20.28 and its 200 day simple moving average is $22.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.17. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 0.94 and a beta of 1.47. TechnipFMC has a 52 week low of $18.42 and a 52 week high of $28.57.
In related news, CFO Maryann T. Mannen sold 14,500 shares of TechnipFMC stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $20.84, for a total value of $302,180.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Olivier Piou acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of $19.49 per share, for a total transaction of $58,470.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $58,470. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in TechnipFMC by 22.1% in the third quarter. Signaturefd LLC now owns 2,650 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 480 shares during the last quarter. Brinker Capital Inc. increased its stake in TechnipFMC by 6.2% in the third quarter. Brinker Capital Inc. now owns 13,987 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 813 shares during the last quarter. First Mercantile Trust Co. increased its stake in TechnipFMC by 13.4% in the third quarter. First Mercantile Trust Co. now owns 6,998 shares of the oil and gas company’s stock valued at $169,000 after acquiring an additional 825 shares during the last quarter. Private Capital Group LLC increased its stake in TechnipFMC by 375.0% in the second quarter. Private Capital Group LLC now owns 1,121 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 885 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in TechnipFMC by 1.1% in the third quarter. Crossmark Global Holdings Inc. now owns 92,346 shares of the oil and gas company’s stock valued at $2,229,000 after acquiring an additional 1,000 shares during the last quarter. 79.86% of the stock is currently owned by institutional investors and hedge funds.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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