TechnipFMC (NYSE:FTI) Receives “Buy” Rating from TD Cowen

TD Cowen reaffirmed their buy rating on shares of TechnipFMC (NYSE:FTI) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $37.00 price target on the oil and gas company’s stock.

FTI has been the subject of a number of other reports. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Barclays raised their price target on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Susquehanna raised their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Bank of America raised their price target on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC has an average rating of “Buy” and an average target price of $33.91.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $31.01 on Wednesday. The business’s 50-day moving average price is $27.32 and its two-hundred day moving average price is $26.53. 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 has a one year low of $18.33 and a one year high of $31.53. The company has a market capitalization of $13.19 billion, a P/E ratio of 20.40 and a beta of 1.51.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. Analysts anticipate that TechnipFMC will post 1.58 earnings per share for the current fiscal year.

TechnipFMC declared that its board has approved a stock repurchase plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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 dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC’s payout ratio is presently 13.16%.

Hedge Funds Weigh In On TechnipFMC

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in TechnipFMC by 203.6% during the third 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 during the last quarter. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 492 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new position in TechnipFMC in the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC bought a new position in TechnipFMC in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds 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.