TechnipFMC (NYSE:FTI) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a report released on Monday.

FTI has been the topic of a number of other reports. BMO Capital Markets lifted their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Bank of America upped their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup increased their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Susquehanna boosted their target price on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $25.15 on Monday. The firm’s 50 day moving average is $26.18 and its two-hundred day moving average is $26.19. The firm has a market capitalization of $10.84 billion, a P/E ratio of 53.51 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $29.85.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Analysts anticipate that TechnipFMC will post 1.37 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.80%. TechnipFMC’s payout ratio is 42.55%.

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

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors have recently bought and sold shares of FTI. Whittier Trust Co. purchased a new position in shares of TechnipFMC in the first quarter worth approximately $29,000. Blue Trust Inc. grew its position in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares in the last quarter. GAMMA Investing LLC raised its stake in TechnipFMC by 73.1% during the 2nd 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 during the period. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the third quarter worth $30,000. Finally, ORG Partners LLC purchased a new position in shares of TechnipFMC during the second quarter valued at $33,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.