Bank of America Boosts TechnipFMC (NYSE:FTI) Price Target to $31.00

TechnipFMC (NYSE:FTI) had its target price raised by Bank of America from $30.00 to $31.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other brokerages have also recently issued reports on FTI. BMO Capital Markets upped their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a market perform rating in a research note on Thursday, October 10th. Susquehanna upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a positive rating in a research note on Friday, July 26th. StockNews.com cut shares of TechnipFMC from a buy rating to a hold rating in a research note on Thursday, September 26th. Finally, Citigroup upped their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $30.74.

TechnipFMC Stock Performance

Shares of FTI stock opened at $27.18 on Monday. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85. The stock has a market cap of $11.71 billion, a PE ratio of 57.83 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $26.17 and its 200-day moving average price is $26.20.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. On average, equities analysts expect that TechnipFMC will post 1.37 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, August 20th. TechnipFMC’s payout ratio is currently 42.55%.

Institutional Investors Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. purchased a new stake in shares of TechnipFMC during the 1st quarter valued at about $29,000. GAMMA Investing LLC increased its position in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new stake in shares of TechnipFMC during the 2nd quarter valued at about $33,000. Finally, Quarry LP increased its position in shares of TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.