TechnipFMC (NYSE:FTI) Downgraded to Hold at StockNews.com

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

A number of other brokerages have also recently issued reports on FTI. Susquehanna boosted their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a positive rating in a research note on Friday, July 26th. Citigroup boosted 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC has a consensus rating of Moderate Buy and an average price target of $29.38.

TechnipFMC Trading Up 2.1 %

Shares of TechnipFMC stock opened at $25.49 on Tuesday. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $29.85. The stock’s 50-day simple moving average is $26.56 and its 200 day simple moving average is $25.76. The stock has a market capitalization of $10.98 billion, a P/E ratio of 54.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data 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. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, research analysts anticipate that TechnipFMC will post 1.34 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

Insider Buying and Selling

In related news, CAO David Light sold 5,928 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at $297,692.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.06% of the stock is owned by company insiders.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently bought and sold shares of FTI. Price T Rowe Associates Inc. MD boosted its stake in TechnipFMC by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares in the last quarter. Norges Bank purchased a new stake in TechnipFMC in the fourth quarter worth approximately $61,570,000. Balyasny Asset Management L.P. boosted its stake in TechnipFMC by 868.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares in the last quarter. Anomaly Capital Management LP boosted its stake in TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after buying an additional 1,144,087 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in TechnipFMC by 182.8% in the fourth quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock worth $33,850,000 after buying an additional 1,086,400 shares in 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.