Key Points
- Director Rousset Sophie Zurquiyah sold 6,350 shares on March 24 at an average of $69.32, reducing her stake by 9.59% to 59,887 shares valued at about $4.15 million.
- Quarterly results beat EPS expectations, with $0.70 EPS vs. $0.51 consensus and revenue of $2.52 billion (slightly below estimates); the quarter showed 6.3% revenue growth year-over-year, a 9.7% net margin and a 31.14% ROE.
- The company declared a quarterly dividend of $0.05 per share (annualized $0.20, ~0.3% yield), and analysts hold a "Moderate Buy" consensus with an average price target of $59.20 while the stock recently traded near $70.83.
TechnipFMC plc (NYSE:FTI - Get Free Report) Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
TechnipFMC Price Performance
NYSE FTI opened at $70.83 on Thursday. TechnipFMC plc has a one year low of $22.11 and a one year high of $71.49. The stock has a 50-day moving average of $61.13 and a 200 day moving average of $49.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The company has a market capitalization of $28.44 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 1.29 and a beta of 0.70.
TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.19. The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. On average, sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.
TechnipFMC Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC's payout ratio is presently 8.66%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on FTI. The Goldman Sachs Group raised their target price on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Weiss Ratings reissued a "buy (b)" rating on shares of TechnipFMC in a report on Thursday, January 22nd. Zacks Research upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 23rd. TD Cowen reaffirmed a "buy" rating on shares of TechnipFMC in a report on Friday, February 20th. Finally, Susquehanna upped their price objective on TechnipFMC from $71.00 to $82.00 and gave the company a "positive" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.20.
Check Out Our Latest Report on FTI
Institutional Trading of TechnipFMC
Several large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its holdings in TechnipFMC by 9.4% during 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 during the last quarter. World Investment Advisors purchased a new position in shares of TechnipFMC during the 4th quarter worth $207,000. DUTCH ASSET Corp bought a new stake in shares of TechnipFMC during the 4th quarter valued at $657,000. Corient Private Wealth LLC grew its position in shares of 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 valued at $641,000 after acquiring an additional 7,004 shares during the period. Finally, Astoria Portfolio Advisors LLC. purchased a new stake in shares of TechnipFMC in the 4th quarter worth $197,000. 96.58% of the stock is currently owned by institutional investors.
TechnipFMC Company Profile
(
Get Free Report)
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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