TechnipFMC (NYSE:FTI) Rating Increased to Buy at HSBC

HSBC upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $32.00 target price on the oil and gas company’s stock.

Several other research analysts have also weighed in on the company. Barclays upped their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday. TD Cowen upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 25th. Susquehanna raised their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Bank of America boosted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Stock Performance

TechnipFMC stock opened at $26.10 on Tuesday. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The firm’s 50 day simple moving average is $26.12 and its 200-day simple moving average is $26.18. 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 company has a market cap of $11.10 billion, a P/E ratio of 17.17 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data 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 net margin of 5.72% and a return on equity of 14.36%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts predict 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 issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its Board of Directors has initiated a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

Several hedge funds have recently bought and sold shares of the business. Whittier Trust Co. acquired a new stake in shares of TechnipFMC in the first quarter worth about $29,000. Blue Trust Inc. raised its stake in shares of TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares in the last quarter. GAMMA Investing LLC lifted its holdings in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in TechnipFMC during the third quarter worth approximately $30,000. Finally, ORG Partners LLC acquired a new position in TechnipFMC during the second quarter valued at approximately $33,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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.