TechnipFMC (NYSE:FTI) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

TechnipFMC plc (NYSE:FTI)’s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $71.78 and traded as high as $72.21. TechnipFMC shares last traded at $70.3850, with a volume of 3,295,767 shares.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FTI. Citigroup boosted their target price on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Finally, Susquehanna dropped their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.08.

TechnipFMC Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $26.81 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.13 and a beta of 0.83. The company’s 50-day simple moving average is $73.99 and its 200 day simple moving average is $71.81.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm earned $0.68 EPS. TechnipFMC’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts expect that TechnipFMC plc will post 3.2 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is 6.94%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the sale, the insider owned 85,813 shares of the company’s stock, valued at $6,165,664.05. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins purchased 6,365 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in TechnipFMC during the first quarter valued at about $26,000. Coppell Advisory Solutions LLC bought a new position in shares of TechnipFMC in the second quarter worth about $35,000. Ascentis Independent Advisors bought a new position in shares of TechnipFMC in the first quarter worth about $37,000. Keating Financial Advisory Services Inc. acquired a new position in shares of TechnipFMC during the 2nd quarter worth about $37,000. Finally, Ameritas Advisory Services LLC bought a new stake in TechnipFMC during the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company’s Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.