TechnipFMC (NYSE:FTI) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of TechnipFMC (NYSE:FTI) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other research firms have also recently commented on FTI. Bank of America increased their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. TD Cowen increased their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday. Susquehanna increased their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. Finally, 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 note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.41.

TechnipFMC Price Performance

Shares of FTI stock traded down $0.41 on Friday, reaching $26.28. The company’s stock had a trading volume of 2,408,888 shares, compared to its average volume of 4,069,478. 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 has a 12-month low of $18.33 and a 12-month high of $29.85. The company has a market capitalization of $11.18 billion, a P/E ratio of 17.29 and a beta of 1.50. The stock’s 50 day simple moving average is $26.12 and its 200-day simple moving average is $26.19.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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 company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts predict that TechnipFMC will post 1.42 earnings per share for the current fiscal year.

TechnipFMC announced that its board has authorized a share buyback program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio is currently 13.16%.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently bought and sold shares of FTI. Price T Rowe Associates Inc. MD lifted its holdings in TechnipFMC by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares during the period. Anomaly Capital Management LP lifted its holdings in 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 buying an additional 1,144,087 shares during the period. Hardman Johnston Global Advisors LLC lifted its holdings in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after buying an additional 1,071,103 shares during the period. AQR Capital Management LLC lifted its holdings in shares of TechnipFMC by 391.5% during the second quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock valued at $27,112,000 after purchasing an additional 825,842 shares during the last quarter. Finally, Yaupon Capital Management LP lifted its holdings in shares of TechnipFMC by 4,931.0% during the first quarter. Yaupon Capital Management LP now owns 805,305 shares of the oil and gas company’s stock valued at $20,221,000 after purchasing an additional 789,298 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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.