Piper Sandler Begins Coverage on TechnipFMC (NYSE:FTI)

Piper Sandler started coverage on shares of TechnipFMC (NYSE:FTI) in a report released on Thursday morning, Marketbeat reports. The brokerage issued an overweight rating and a $39.00 price objective on the oil and gas company’s stock.

Several other equities analysts have also commented on the company. Citigroup raised their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Bank of America lifted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets lifted their target price 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. Finally, StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and a consensus price target of $35.46.

TechnipFMC Trading Down 0.8 %

Shares of FTI opened at $28.63 on Thursday. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $32.64. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $28.63 and its 200-day moving average price is $27.05. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 18.84 and a beta of 1.54.

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

TechnipFMC announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

Institutional Trading of TechnipFMC

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC in the 3rd quarter worth $30,000. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 693 shares during the period. Crewe Advisors LLC purchased a new stake in TechnipFMC during the second quarter valued at $51,000. Finally, Toth Financial Advisory Corp lifted its holdings in TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 1,900 shares during the period. 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.