TechnipFMC (NYSE:FTI) Given New $34.00 Price Target at Piper Sandler

TechnipFMC (NYSE:FTI - Free Report) had its target price hoisted by Piper Sandler from $30.00 to $34.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company's stock.

Several other research analysts have also issued reports on the stock. StockNews.com upgraded shares of TechnipFMC from a hold rating to a buy rating in a research report on Sunday, April 28th. Susquehanna increased their target price on TechnipFMC from $27.00 to $34.00 and gave the company a positive rating in a report on Friday, April 26th. TD Cowen increased their price objective on TechnipFMC from $30.00 to $32.00 and gave the company a buy rating in a research note on Friday, April 26th. Benchmark reaffirmed a buy rating and issued a $30.00 target price on shares of TechnipFMC in a research note on Friday, April 26th. Finally, Bank of America upped their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the company a buy rating in a research note on Monday, April 15th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $27.21.

TechnipFMC Price Performance

NYSE FTI traded up $0.39 during trading on Monday, reaching $26.35. The company's stock had a trading volume of 3,002,200 shares, compared to its average volume of 4,633,701. The firm has a fifty day moving average of $24.74 and a 200 day moving average of $21.75. TechnipFMC has a one year low of $13.11 and a one year high of $27.26. The stock has a market capitalization of $11.36 billion, a PE ratio of 56.06 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.96 billion. TechnipFMC's revenue for the quarter was up 18.9% on a year-over-year basis. Analysts expect that TechnipFMC will post 1.16 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. TechnipFMC's payout ratio is currently 42.55%.

Insider Activity at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now directly owns 103,982 shares of the company's stock, valued at $2,204,418.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. bought a new stake in TechnipFMC during the fourth quarter valued at about $37,976,000. Cerity Partners LLC purchased a new position in TechnipFMC in the 4th quarter worth approximately $6,836,000. SG Americas Securities LLC boosted its stake in TechnipFMC by 71.1% in the 4th quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company's stock worth $3,072,000 after purchasing an additional 63,378 shares during the period. Syntal Capital Partners LLC purchased a new stake in TechnipFMC during the 3rd quarter valued at approximately $665,000. Finally, Vanguard Group Inc. raised its position in shares of TechnipFMC by 320.3% during the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company's stock valued at $809,303,000 after buying an additional 30,323,011 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.