TechnipFMC (NYSE:FTI) Cut to "Hold" at Sanford C. Bernstein

Sanford C. Bernstein lowered shares of TechnipFMC (NYSE:FTI - Free Report) from a strong-buy rating to a hold rating in a research report released on Thursday morning, Marketbeat.com reports. The brokerage currently has $32.00 price objective on the oil and gas company's stock.

A number of other analysts also recently commented on FTI. Wall Street Zen downgraded shares of TechnipFMC from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Susquehanna dropped their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Barclays boosted their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Piper Sandler boosted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $36.46.

TechnipFMC Stock Performance

TechnipFMC stock traded up $0.11 during midday trading on Thursday, reaching $29.67. 2,524,711 shares of the stock traded hands, compared to its average volume of 4,004,985. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $28.40 and a two-hundred day moving average price of $29.39. The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 19.52 and a beta of 0.98. TechnipFMC has a fifty-two week low of $22.12 and a fifty-two week high of $33.45.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, equities research analysts forecast that TechnipFMC will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.67%. TechnipFMC's dividend payout ratio is presently 10.53%.

Insider Buying and Selling at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This trade represents a 57.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. The trade was a 23.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its position in TechnipFMC by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after buying an additional 365,527 shares during the last quarter. Vanguard Group Inc. grew its position in shares of TechnipFMC by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock valued at $1,180,576,000 after purchasing an additional 1,623,864 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of TechnipFMC by 9.0% in the first quarter. Ameriprise Financial Inc. now owns 18,030,976 shares of the oil and gas company's stock valued at $571,583,000 after purchasing an additional 1,492,746 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of TechnipFMC by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,952,064 shares of the oil and gas company's stock valued at $315,381,000 after purchasing an additional 202,599 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of TechnipFMC by 111.4% in the first quarter. AQR Capital Management LLC now owns 8,735,697 shares of the oil and gas company's stock valued at $273,078,000 after purchasing an additional 4,602,939 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

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.