Susquehanna Boosts TechnipFMC (NYSE:FTI) Price Target to $37.00

TechnipFMC (NYSE:FTI) had its target price hoisted by Susquehanna from $35.00 to $37.00 in a research report report published on Friday morning, Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

FTI has been the subject of several other research reports. TD Cowen raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Bank of America increased their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup boosted their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.37.

TechnipFMC Trading Up 2.4 %

Shares of NYSE FTI opened at $26.48 on Friday. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $29.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The business’s 50 day moving average is $26.13 and its two-hundred day moving average is $26.18. The stock has a market capitalization of $11.34 billion, a P/E ratio of 24.29 and a beta of 1.50.

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

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. TechnipFMC’s payout ratio is presently 18.35%.

TechnipFMC declared that its board has initiated a share buyback plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in TechnipFMC by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after purchasing an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of TechnipFMC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock worth $1,005,652,000 after acquiring an additional 134,880 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after acquiring an additional 204,435 shares in the last quarter. Anomaly Capital Management LP boosted its position in shares of TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in TechnipFMC by 56.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock worth $74,184,000 after buying an additional 1,068,788 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other 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.