Wall Street Zen Downgrades TechnipFMC (NYSE:FTI) to Hold

TechnipFMC (NYSE:FTI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. BMO Capital Markets raised their price target on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Citigroup upped their price objective on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, UBS Group set a $70.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

TechnipFMC Stock Down 0.0%

Shares of FTI stock opened at $70.99 on Friday. TechnipFMC has a 52-week low of $22.11 and a 52-week high of $72.59. The stock has a market cap of $28.51 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.31 and a beta of 0.71. The firm’s 50-day moving average is $63.51 and its 200-day moving average is $50.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.TechnipFMC’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. Sell-side analysts predict that TechnipFMC will post 1.63 EPS for the current year.

Insider Activity

In other news, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction 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 completion of the sale, the executive vice president owned 119,667 shares of the company’s stock, valued at approximately $7,431,320.70. This trade represents a 59.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president directly owned 78,871 shares of the company’s stock, valued at approximately $4,923,916.53. The trade was a 37.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,216,442 shares of company stock worth $75,762,414. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of TechnipFMC

A number of institutional investors have recently bought and sold shares of FTI. Rockefeller Capital Management L.P. raised its position in shares of TechnipFMC by 9.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 42,793 shares of the oil and gas company’s stock valued at $1,907,000 after buying an additional 3,689 shares in the last quarter. World Investment Advisors acquired a new stake in TechnipFMC during the fourth quarter worth approximately $207,000. DUTCH ASSET Corp bought a new position in TechnipFMC during the 4th quarter worth $657,000. Corient Private Wealth LLC increased its stake in TechnipFMC by 95.7% during the 4th quarter. Corient Private Wealth LLC now owns 14,326 shares of the oil and gas company’s stock worth $641,000 after acquiring an additional 7,004 shares during the period. Finally, Astoria Portfolio Advisors LLC. acquired a new position in TechnipFMC in the 4th quarter valued at $197,000. Institutional investors own 96.58% of the company’s stock.

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.