Susquehanna Increases TechnipFMC (NYSE:FTI) Price Target to $37.00

TechnipFMC (NYSE:FTI) had its price objective upped by Susquehanna from $35.00 to $37.00 in a research note published on Friday morning, Benzinga reports. They currently have a positive rating on the oil and gas company’s stock.

Several other analysts also recently commented on FTI. BMO Capital Markets upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen raised their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup boosted their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $31.37.

TechnipFMC Price Performance

NYSE FTI opened at $26.48 on Friday. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 24.29 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The stock’s fifty day moving average price is $26.13 and its 200 day moving average price is $26.18. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data 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 14.36% and a net margin of 5.72%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts forecast that TechnipFMC will post 1.38 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. TechnipFMC’s payout ratio is 18.35%.

TechnipFMC announced that its board has initiated a share repurchase plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently made changes to their positions in FTI. Whittier Trust Co. purchased a new stake in TechnipFMC in the 1st quarter valued at $29,000. Blue Trust Inc. grew its holdings in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares during the period. GAMMA Investing LLC increased its position in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in TechnipFMC during the third quarter worth about $30,000. Finally, ORG Partners LLC acquired a new position in TechnipFMC in the 2nd quarter valued at about $33,000. 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.