TechnipFMC (NYSE:FTI) Price Target Raised to $35.00

TechnipFMC (NYSE:FTI) had its price objective boosted by Citigroup from $34.00 to $35.00 in a report issued on Thursday,Benzinga reports. Citigroup currently has a buy rating on the oil and gas company’s stock.

A number of other research analysts have also recently commented on the company. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Barclays boosted their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. BMO Capital Markets increased their price target 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. Finally, TD Cowen boosted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TechnipFMC has an average rating of “Buy” and a consensus price target of $33.60.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $28.18 on Thursday. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $29.85. The company’s 50 day moving average price is $26.54 and its two-hundred day moving average price is $26.36. The firm has a market cap of $11.99 billion, a PE ratio of 18.54 and a beta of 1.51. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (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 business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts predict that TechnipFMC will post 1.55 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. Shareholders of record on Tuesday, November 19th will be paid 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 0.71%. TechnipFMC’s payout ratio is presently 13.16%.

TechnipFMC announced that its board has authorized a stock buyback plan 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in TechnipFMC in the 3rd quarter valued at approximately $185,643,000. Price T Rowe Associates Inc. MD increased its position in TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after acquiring an additional 3,259,348 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC during the third quarter valued at $49,273,000. Jennison Associates LLC lifted its holdings in shares of TechnipFMC by 95.0% during the third quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after purchasing an additional 1,150,049 shares during the period. Finally, Anomaly Capital Management LP grew its stake in shares of TechnipFMC by 50.3% in the second 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 during the last quarter. Institutional investors own 96.58% of the company’s stock.

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.