TechnipFMC (NYSE:FTI) PT Raised to $37.00

TechnipFMC (NYSE:FTI) had its price objective boosted by Susquehanna from $35.00 to $37.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the oil and gas company’s stock.

A number of other research analysts have also issued reports on FTI. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. BMO Capital Markets upped their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. TD Cowen boosted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday. Citigroup raised their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.65.

TechnipFMC Stock Performance

TechnipFMC stock opened at $26.08 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85. The company has a fifty day moving average price of $26.11 and a two-hundred day moving average price of $26.17. The company has a market cap of $11.17 billion, a PE ratio of 23.93 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. Research analysts expect that TechnipFMC will post 1.38 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 18.35%.

TechnipFMC declared that its board has initiated a share repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its stake in shares of TechnipFMC by 54.1% in the 3rd quarter. US Bancorp DE now owns 81,585 shares of the oil and gas company’s stock worth $2,140,000 after purchasing an additional 28,649 shares during the last quarter. Oak Harvest Investment Services grew its position in TechnipFMC by 12.8% in the third quarter. Oak Harvest Investment Services now owns 103,662 shares of the oil and gas company’s stock worth $2,719,000 after buying an additional 11,758 shares during the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of TechnipFMC by 159.0% in the third quarter. Pallas Capital Advisors LLC now owns 23,051 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 14,150 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of TechnipFMC by 152.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 37,440 shares of the oil and gas company’s stock valued at $982,000 after acquiring an additional 22,624 shares during the last quarter. Finally, Shayne & Jacobs LLC boosted its stake in shares of TechnipFMC by 0.5% during the 3rd quarter. Shayne & Jacobs LLC now owns 181,520 shares of the oil and gas company’s stock worth $4,761,000 after acquiring an additional 920 shares in the last quarter. 96.58% of the stock is currently owned by 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.