TechnipFMC (NYSE:FTI) Downgraded by StockNews.com

StockNews.com downgraded shares of TechnipFMC (NYSE:FTI) from a buy rating to a hold rating in a report released on Tuesday.

Several other brokerages also recently commented on FTI. Susquehanna raised their target price on TechnipFMC from $34.00 to $35.00 and gave the company a positive rating in a research note on Friday, July 26th. Citigroup raised their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of Moderate Buy and a consensus target price of $29.51.

TechnipFMC Trading Up 3.3 %

Shares of FTI stock opened at $27.21 on Tuesday. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. The stock has a 50 day simple moving average of $26.52 and a two-hundred day simple moving average of $25.79. The company has a market cap of $11.73 billion, a P/E ratio of 57.89 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. TechnipFMC’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. Research analysts forecast that TechnipFMC will post 1.34 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO David Light sold 5,928 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now owns 11,534 shares in the company, valued at approximately $297,692.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in TechnipFMC during the second quarter worth $210,000. Point72 Asset Management L.P. increased its position in shares of TechnipFMC by 217.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 706,918 shares of the oil and gas company’s stock valued at $18,486,000 after purchasing an additional 483,918 shares during the last quarter. Quarry LP raised its stake in shares of TechnipFMC by 73.0% during the 2nd quarter. Quarry LP now owns 2,706 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 1,142 shares during the period. Creative Planning boosted its holdings in shares of TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after buying an additional 546 shares during the last quarter. Finally, Algert Global LLC grew its position in TechnipFMC by 16.0% during the second quarter. Algert Global LLC now owns 470,773 shares of the oil and gas company’s stock valued at $12,311,000 after buying an additional 64,831 shares during the period. 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.