TechnipFMC (NYSE:FTI) Trading 4.2% Higher on Strong Earnings

TechnipFMC plc (NYSE:FTI) shares were up 4.2% on Thursday following a stronger than expected earnings report. The stock traded as high as $26.85 and last traded at $26.79. Approximately 2,581,604 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 4,653,382 shares. The stock had previously closed at $25.72.

The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC’s revenue was up 18.9% compared to the same quarter last year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. TechnipFMC’s payout ratio is currently 42.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTI. TD Cowen upped their target price on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research report on Friday. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a research note on Friday, February 23rd. Finally, Barclays upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average target price of $26.07.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. bought a new stake in shares of TechnipFMC in the 4th quarter worth $37,976,000. Cerity Partners LLC bought a new stake in TechnipFMC in the 4th quarter worth about $6,836,000. SG Americas Securities LLC increased 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 valued at $3,072,000 after buying an additional 63,378 shares during the last quarter. Syntal Capital Partners LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $665,000. Finally, Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 320.3% in the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $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.

TechnipFMC Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.92. The company has a market capitalization of $11.62 billion, a P/E ratio of 56.57 and a beta of 1.65. The firm has a fifty day moving average price of $24.21 and a 200-day moving average price of $21.54.

TechnipFMC Company Profile

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.