Wall Street Zen Upgrades TechnipFMC (NYSE:FTI) to Buy

Wall Street Zen upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research report released on Saturday.

FTI has been the topic of a number of other research reports. Barclays increased their target price on TechnipFMC from $45.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, July 25th. BTIG Research cut TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Citigroup restated a “buy” rating and set a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their target price on TechnipFMC from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Finally, Evercore ISI increased their target price on TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.21.

TechnipFMC Stock Performance

NYSE FTI opened at $38.00 on Friday. TechnipFMC has a 1-year low of $22.11 and a 1-year high of $41.29. The company has a market capitalization of $15.62 billion, a P/E ratio of 17.92, a PEG ratio of 1.22 and a beta of 1.04. The business has a 50 day moving average price of $37.54 and a 200 day moving average price of $33.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.TechnipFMC’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Sell-side analysts expect that TechnipFMC will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, August 19th. TechnipFMC’s payout ratio is presently 9.43%.

Insiders Place Their Bets

In related news, CFO Alf Melin sold 113,760 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $38.61, for a total value of $4,392,273.60. Following the completion of the sale, the chief financial officer directly owned 241,140 shares of the company’s stock, valued at $9,310,415.40. The trade was a 32.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thierry Conti sold 50,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.64, for a total value of $1,932,000.00. Following the completion of the sale, the insider directly owned 56,352 shares of the company’s stock, valued at approximately $2,177,441.28. This represents a 47.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 885,984 shares of company stock valued at $34,180,811 in the last three months. 1.80% of the stock is owned by insiders.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new position in TechnipFMC in the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. boosted its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of TechnipFMC during the second quarter worth approximately $44,000. Financial Network Wealth Advisors LLC boosted its position in shares of TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company’s stock worth $48,000 after buying an additional 346 shares during the period. Finally, Ossiam boosted its position in shares of TechnipFMC by 52.0% during 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 during the period. 96.58% of the stock is owned by institutional investors.

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.