TechnipFMC (NYSE:FTI) Receives Buy Rating from TD Cowen

TechnipFMC (NYSE:FTI)‘s stock had its “buy” rating reissued by stock analysts at TD Cowen in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $37.00 price objective on the oil and gas company’s stock. TD Cowen’s price objective would indicate a potential upside of 18.25% from the company’s current price.

FTI has been the topic of a number of other reports. Susquehanna boosted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, October 29th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays lifted their target price on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Bank of America upped their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $33.91.

TechnipFMC Stock Up 0.8 %

Shares of NYSE:FTI opened at $31.29 on Wednesday. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 20.59 and a beta of 1.51. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $31.30. The business has a 50-day moving average price of $27.21 and a 200 day moving average price of $26.50. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Sell-side analysts expect that TechnipFMC will post 1.58 EPS for the current year.

TechnipFMC announced that its Board of Directors has approved a stock buyback program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently bought and sold shares of FTI. Blue Trust Inc. lifted its stake in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares during the last quarter. GAMMA Investing LLC boosted its stake in TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new position in TechnipFMC during the 3rd quarter worth $30,000. ORG Partners LLC purchased a new position in TechnipFMC during the 2nd quarter worth $33,000. Finally, Crewe Advisors LLC purchased a new stake in shares of TechnipFMC in the second quarter valued at about $51,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.