The Goldman Sachs Group Begins Coverage on TechnipFMC (NYSE:FTI)

Equities research analysts at The Goldman Sachs Group began coverage on shares of TechnipFMC (NYSE:FTI) in a note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $38.00 price target on the oil and gas company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 22.58% from the company’s previous close.

FTI has been the topic of a number of other research reports. Citigroup increased their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Susquehanna increased their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. 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 on the stock. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and a consensus target price of $34.69.

TechnipFMC Stock Performance

FTI opened at $31.00 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The company has a market capitalization of $13.19 billion, a PE ratio of 20.39 and a beta of 1.54. The business has a fifty day simple moving average of $28.45 and a 200 day simple moving average of $26.96. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $32.64.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. Research analysts expect that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. increased its stake 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 buying an additional 735 shares during the period. ORG Wealth Partners LLC bought a new stake in TechnipFMC during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in TechnipFMC in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC raised its stake in shares of TechnipFMC by 59.5% during the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 693 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of TechnipFMC during the second quarter valued at $51,000. 96.58% of the stock is currently owned by institutional investors.

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.