TechnipFMC’s (FTI) Buy Rating Reiterated at TD Cowen

TD Cowen reissued their buy rating on shares of TechnipFMC (NYSE:FTI) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $37.00 price objective on the oil and gas company’s stock.

Several other brokerages have also commented on FTI. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Susquehanna raised their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research report on Friday, October 25th. Barclays lifted their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC has a consensus rating of “Buy” and a consensus price target of $33.91.

TechnipFMC Stock Up 1.2 %

TechnipFMC stock opened at $31.38 on Wednesday. The firm has a 50 day moving average price of $27.53 and a two-hundred day moving average price of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $31.53. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 20.63 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business 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%. TechnipFMC’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. Equities analysts predict that TechnipFMC will post 1.58 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

TechnipFMC announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Oak Thistle LLC raised its position in TechnipFMC by 3.2% in the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after buying an additional 421 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in shares of TechnipFMC by 5.1% during the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after purchasing an additional 433 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares in the last quarter. Ballentine Partners LLC boosted its holdings in TechnipFMC by 4.8% during the third quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 515 shares during the last quarter. Finally, Creative Planning grew its position in TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.