Barclays Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its price target raised by Barclays from $37.00 to $42.00 in a report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Royal Bank of Canada initiated coverage on TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $35.46.

TechnipFMC Trading Down 0.3 %

Shares of NYSE:FTI traded down $0.10 during trading on Wednesday, reaching $28.75. 360,663 shares of the company were exchanged, compared to its average volume of 3,983,029. The business’s fifty day simple moving average is $28.61 and its 200-day simple moving average is $27.04. 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 12-month low of $18.33 and a 12-month high of $32.64. The firm has a market capitalization of $12.23 billion, a PE ratio of 18.91 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company posted $0.21 EPS. TechnipFMC’s revenue was up 14.2% on a year-over-year basis. On average, research analysts anticipate that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC declared that its Board of Directors has authorized a share 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 repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. TechnipFMC’s dividend payout ratio is currently 13.16%.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently modified their holdings of FTI. Franklin Resources Inc. raised its position in TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after buying an additional 679,748 shares during the last quarter. Raymond James & Associates boosted its holdings in TechnipFMC by 12.0% in the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after purchasing an additional 36,326 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after buying an additional 369,594 shares during the last quarter. ING Groep NV lifted its holdings in shares of TechnipFMC by 15.3% in the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock valued at $22,697,000 after buying an additional 114,600 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of TechnipFMC in the third quarter worth about $49,273,000. Institutional investors and hedge funds 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.