TechnipFMC (NYSE:FTI) Given New $42.00 Price Target at Barclays

TechnipFMC (NYSE:FTI) had its price objective raised by Barclays from $37.00 to $42.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Other analysts have also issued research reports about the stock. Bank of America upped their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and increased their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, 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 target price for the company. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $35.46.

TechnipFMC Trading Up 0.9 %

Shares of TechnipFMC stock opened at $28.89 on Wednesday. The stock has a market capitalization of $12.29 billion, a P/E ratio of 19.01 and a beta of 1.54. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $32.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock’s 50-day simple moving average is $28.63 and its 200 day simple moving average is $27.05.

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

TechnipFMC declared that its board has approved a share repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. TechnipFMC’s dividend payout ratio is currently 13.16%.

Hedge Funds Weigh In On TechnipFMC

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates grew its holdings in shares of TechnipFMC by 12.0% during the second quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after buying an additional 36,326 shares during the last quarter. Fifth Third Bancorp raised its position in TechnipFMC by 7,374.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,317 shares of the oil and gas company’s stock worth $61,000 after buying an additional 2,286 shares during the last quarter. Calamos Wealth Management LLC lifted its stake in TechnipFMC by 9.2% during the 2nd quarter. Calamos Wealth Management LLC now owns 37,220 shares of the oil and gas company’s stock valued at $973,000 after acquiring an additional 3,138 shares during the period. AlphaCentric Advisors LLC boosted its holdings in shares of TechnipFMC by 97.0% during the 2nd quarter. AlphaCentric Advisors LLC now owns 6,522 shares of the oil and gas company’s stock valued at $171,000 after acquiring an additional 3,211 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in TechnipFMC by 10.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,322,346 shares of the oil and gas company’s stock worth $34,579,000 after purchasing an additional 126,142 shares during the period. Institutional investors 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.