TechnipFMC plc (NYSE:FTI) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• TechnipFMC has a consensus analyst rating of “Moderate Buy” from 17 analysts, with an average 12-month price target of about $69.71.
• The company’s latest quarterly results topped earnings expectations, reporting $0.64 EPS versus the $0.57 estimate, while revenue rose 11.6% year over year to $2.49 billion.
• Insider selling has been notable, with CFO Alf Melin and EVP Justin Rounce both selling large blocks of shares, and insiders having sold 1.21 million shares worth about $75.3 million over the last three months.

Shares of TechnipFMC plc (NYSE:FTI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $69.7143.

A number of research firms have issued reports on FTI. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a research note on Wednesday. Evercore reiterated an "outperform" rating and set a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. UBS Group set a $80.00 price target on TechnipFMC in a research note on Wednesday. Piper Sandler lifted their price target on TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Finally, Barclays lifted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CFO Alf Melin sold 83,721 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the transaction, the chief financial officer owned 282,537 shares of the company's stock, valued at $17,469,262.71. This trade represents a 22.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the transaction, the executive vice president directly owned 119,667 shares in the company, valued at approximately $7,431,320.70. This represents a 59.01% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,210,092 shares of company stock worth $75,347,124. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds have recently modified their holdings of FTI. State Street Corp lifted its position in shares of TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock worth $508,276,000 after buying an additional 4,938,498 shares in the last quarter. Norges Bank bought a new position in shares of TechnipFMC during the 4th quarter worth approximately $205,468,000. Invesco Ltd. lifted its position in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock worth $502,284,000 after buying an additional 4,437,960 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock worth $751,567,000 after buying an additional 3,549,839 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of TechnipFMC by 184.0% during the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company's stock worth $189,460,000 after buying an additional 3,111,399 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI opened at $66.76 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The stock has a 50-day moving average of $71.66 and a 200-day moving average of $60.24. The company has a market cap of $26.62 billion, a PE ratio of 25.48, a P/E/G ratio of 1.48 and a beta of 0.69. TechnipFMC has a one year low of $31.88 and a one year high of $77.78.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. On average, equities research analysts predict that TechnipFMC will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's payout ratio is 7.63%.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company's activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

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