TechnipFMC (NYSE:FTI) Price Target Raised to $42.00

TechnipFMC (NYSE:FTI) had its price objective upped by Barclays from $37.00 to $42.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

FTI has been the subject of several other research reports. Susquehanna boosted their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. BMO Capital Markets raised their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Citigroup upped their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $35.46.

TechnipFMC Trading Up 0.9 %

Shares of NYSE:FTI opened at $28.89 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $32.64. The company has a market capitalization of $12.29 billion, a P/E ratio of 19.01 and a beta of 1.54. The business’s 50 day simple moving average is $28.63 and its 200 day simple moving average is $27.05.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, research analysts anticipate that TechnipFMC will post 1.61 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. TechnipFMC’s payout ratio is presently 13.16%.

TechnipFMC declared that its Board of Directors has authorized a stock repurchase plan 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 reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in TechnipFMC during the third quarter worth $30,000. GAMMA Investing LLC boosted its position in TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 693 shares during the last quarter. Crewe Advisors LLC bought a new position in TechnipFMC in the 2nd quarter valued at $51,000. Finally, Toth Financial Advisory Corp increased its position in shares of TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

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.