The Goldman Sachs Group Initiates Coverage on TechnipFMC (NYSE:FTI)

Research analysts at The Goldman Sachs Group initiated coverage on shares of TechnipFMC (NYSE:FTI) in a research note issued to investors on Friday, Marketbeat reports. The firm set a “buy” rating and a $38.00 price target on the oil and gas company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 22.58% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets increased their price objective 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. Barclays increased their target price on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. TD Cowen reissued a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Citigroup upped their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and a consensus target price of $34.69.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $31.00 on Friday. The stock’s fifty day simple moving average is $28.45 and its 200 day simple moving average is $26.96. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $13.19 billion, a PE ratio of 20.39 and a beta of 1.54. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $32.64.

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

TechnipFMC declared that its board has authorized a stock 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 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 modified their holdings of FTI. Blue Trust Inc. increased its position in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in shares of TechnipFMC during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC raised its stake in TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 693 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in TechnipFMC during the 2nd quarter valued at $51,000. 96.58% of the stock is owned by institutional investors.

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.