TechnipFMC (NYSE:FTI) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research note published on Friday, Marketbeat Ratings reports. The firm currently has $40.00 price target on the oil and gas company’s stock, up from their previous price target of $29.00.

A number of other equities analysts also recently issued reports on the stock. Citigroup increased their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada began coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Bank of America increased their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.42.

TechnipFMC Stock Down 3.8 %

Shares of TechnipFMC stock opened at $30.73 on Friday. The company has a market cap of $13.07 billion, a P/E ratio of 20.22 and a beta of 1.54. 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 one year low of $18.33 and a one year high of $32.64. The firm has a fifty day moving average of $28.09 and a two-hundred day moving average of $26.80.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating 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%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. On average, analysts forecast that TechnipFMC will post 1.58 earnings per share for the current year.

TechnipFMC announced that its board has initiated a stock buyback 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 purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. TechnipFMC’s dividend payout ratio is currently 13.16%.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its position 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 worth $29,000 after acquiring an additional 735 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 492 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the third quarter worth approximately $30,000. ORG Partners LLC acquired a new stake in shares of TechnipFMC in the second quarter worth approximately $33,000. Finally, Crewe Advisors LLC acquired a new stake in shares of TechnipFMC in the second quarter worth approximately $51,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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.