TechnipFMC (NYSE:FTI) Price Target Raised to $40.00

TechnipFMC (NYSE:FTI) had its target price upped by Piper Sandler from $39.00 to $40.00 in a report issued on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas company’s stock.

FTI has been the subject of several other research reports. Royal Bank of Canada initiated coverage on TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective for the company. Barclays lifted their price target on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Evercore ISI raised their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group began coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $36.23.

TechnipFMC Stock Performance

FTI opened at $29.42 on Friday. The business’s 50-day moving average price is $30.61 and its two-hundred day moving average price is $28.58. TechnipFMC has a 1 year low of $21.36 and a 1 year high of $33.45. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 19.36 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.68%. TechnipFMC’s payout ratio is presently 10.42%.

Institutional Trading of TechnipFMC

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of TechnipFMC in the fourth quarter worth $46,000. Smartleaf Asset Management LLC grew its stake in shares of TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of TechnipFMC in the fourth quarter worth $45,000. Finally, EverSource Wealth Advisors LLC boosted its position in TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,338 shares during the last quarter. 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.