TechnipFMC (NYSE:FTI) Upgraded at StockNews.com

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

A number of other brokerages also recently issued reports on FTI. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. BMO Capital Markets raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Susquehanna boosted their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Finally, TD Cowen lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.41.

TechnipFMC Stock Down 1.5 %

Shares of TechnipFMC stock opened at $26.28 on Friday. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 17.29 and a beta of 1.51. The company has a 50-day moving average of $26.12 and a 200 day moving average of $26.19. 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 (NYSE:FTI) last announced 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 net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC will post 1.42 earnings per share for the current fiscal year.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders 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 dividend on an annualized basis and a yield of 0.76%. TechnipFMC’s dividend payout ratio is presently 13.16%.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTI. Price T Rowe Associates Inc. MD grew its holdings in TechnipFMC by 8.7% during 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 buying an additional 3,259,348 shares in the last quarter. Anomaly Capital Management LP grew its stake in TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after acquiring an additional 1,144,087 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its holdings in TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after acquiring an additional 1,071,103 shares during the last quarter. AQR Capital Management LLC lifted its stake in TechnipFMC by 391.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock worth $27,112,000 after purchasing an additional 825,842 shares in the last quarter. Finally, Yaupon Capital Management LP boosted its holdings in shares of TechnipFMC by 4,931.0% during the 1st 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. Institutional investors 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.