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

TechnipFMC (NYSE:FTI) had its price target boosted by TD Cowen from $35.00 to $37.00 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other research analysts have also issued reports on FTI. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. BMO Capital Markets upped their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Citigroup upped their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Susquehanna increased their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Finally, Bank of America increased their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.37.

TechnipFMC Trading Up 2.4 %

NYSE:FTI opened at $26.48 on Friday. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $29.85. The firm has a 50 day moving average of $26.13 and a 200 day moving average of $26.18. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 24.29 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. TechnipFMC’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.76%. TechnipFMC’s dividend payout ratio is presently 18.35%.

TechnipFMC announced that its board has approved a stock buyback plan 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 buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Trading of TechnipFMC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new stake in TechnipFMC during the first quarter valued at $29,000. Blue Trust Inc. grew its position in TechnipFMC by 203.6% during 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. GAMMA Investing LLC grew 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 valued at $30,000 after buying an additional 492 shares during the period. ORG Wealth Partners LLC acquired a new stake in TechnipFMC during the third quarter valued at $30,000. Finally, ORG Partners LLC purchased a new position in TechnipFMC during the second quarter valued at $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.