TechnipFMC (NYSE:FTI) Stock Price Down 7.1% – Here’s Why

Shares of TechnipFMC plc (NYSE:FTI) fell 7.1% on Wednesday . The company traded as low as $66.10 and last traded at $66.3710. 1,150,338 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 3,910,235 shares. The stock had previously closed at $71.41.

Analyst Ratings Changes

A number of research firms have weighed in on FTI. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup raised their price target on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Piper Sandler raised 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. The Goldman Sachs Group raised their price target on TechnipFMC from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and raised their price target for the company from $49.00 to $62.00 in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

TechnipFMC Price Performance

The company has a 50 day moving average price of $71.46 and a 200 day moving average price of $58.95. The company has a market capitalization of $26.69 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. TechnipFMC’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is 7.63%.

Insider Activity at TechnipFMC

In other news, EVP Justin Rounce sold 172,276 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares of the company’s stock, valued at approximately $7,431,320.70. The trade was a 59.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.24, for a total value of $45,648,309.76. Following the transaction, the chief executive officer directly owned 2,411,852 shares of the company’s stock, valued at $150,113,668.48. This trade represents a 23.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,210,092 shares of company stock worth $75,347,124 in the last three months. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently made changes to their positions in FTI. Focus Partners Wealth grew its position in shares of TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares during the period. Sivia Capital Partners LLC lifted its position in shares of TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after acquiring an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 3,105 shares during the period. Finally, Ossiam lifted its holdings in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after buying an additional 546 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

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.