TechnipFMC PLC (NYSE:FTI) announced a quarterly dividend on Thursday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, March 19th will be given a dividend of 0.13 per share by the oil and gas company on Wednesday, April 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, March 18th.
TechnipFMC has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TechnipFMC to earn $1.35 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 38.5%.
Shares of TechnipFMC stock traded down $1.94 during trading hours on Thursday, reaching $22.65. The company’s stock had a trading volume of 8,186,046 shares, compared to its average volume of 3,992,004. TechnipFMC has a one year low of $18.20 and a one year high of $34.39. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.31. The company has a market cap of $11.17 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.76 and a beta of 1.24.
Several equities analysts recently commented on the stock. TheStreet upgraded shares of TechnipFMC from a “d” rating to a “c-” rating in a report on Wednesday, February 6th. Exane BNP Paribas upgraded shares of TechnipFMC from an “underperform” rating to a “neutral” rating in a report on Tuesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of TechnipFMC in a report on Thursday, November 8th. BMO Capital Markets reiterated a “hold” rating on shares of TechnipFMC in a report on Tuesday, November 6th. Finally, Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. TechnipFMC presently has an average rating of “Buy” and a consensus price target of $35.15.
TechnipFMC announced that its board has authorized a share repurchase program on Wednesday, December 12th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In related news, CEO Douglas J. Pferdehirt acquired 50,000 shares of the stock in a transaction on Monday, December 31st. The stock was bought at an average cost of $19.20 per share, with a total value of $960,000.00. Following the transaction, the chief executive officer now directly owns 525,802 shares in the company, valued at $10,095,398.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is owned by insiders.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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