TechnipFMC plc (NYSE:FTI) Receives Average Recommendation of “Buy” from Brokerages

TechnipFMC plc (NYSE:FTI) has received a consensus recommendation of “Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $36.15.

A number of equities analysts have recently commented on FTI shares. Barclays lifted their target price on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada started coverage on shares of TechnipFMC in a report on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price on the stock. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 29th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler initiated coverage on shares of TechnipFMC in a research note on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective on the stock.

Institutional Investors Weigh In On TechnipFMC

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of 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. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC in the 3rd quarter worth about $30,000. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after buying an additional 693 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of TechnipFMC by 1,900.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after buying an additional 1,900 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of TechnipFMC in the 3rd quarter worth about $56,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $30.72 on Wednesday. The firm’s fifty day simple moving average is $30.78 and its 200-day simple moving average is $28.18. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of 20.21 and a beta of 1.54. TechnipFMC has a 12 month low of $18.53 and a 12 month high of $33.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

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

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.