TechnipFMC (NYSE:FTI) Given New $37.00 Price Target at Susquehanna

TechnipFMC (NYSE:FTI) had its target price raised by Susquehanna from $35.00 to $37.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the oil and gas company’s stock.

A number of other analysts also recently weighed in on FTI. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. BMO Capital Markets upped their price target 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. TD Cowen lifted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday. Citigroup upped their target price on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America lifted their price target on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.37.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded up $0.62 during trading on Friday, reaching $26.48. The company’s stock had a trading volume of 4,004,269 shares, compared to its average volume of 4,081,322. TechnipFMC has a 52 week low of $18.33 and a 52 week high of $29.85. The firm has a market cap of $11.41 billion, a PE ratio of 56.32 and a beta of 1.50. The business’s 50-day moving average price is $26.13 and its 200-day moving average price is $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.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. Equities analysts forecast that TechnipFMC will post 1.37 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced 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 42.55%.

TechnipFMC declared that its Board of Directors has initiated a stock buyback plan 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently modified their holdings of the business. Oak Harvest Investment Services raised its position in TechnipFMC by 12.8% during the 3rd quarter. Oak Harvest Investment Services now owns 103,662 shares of the oil and gas company’s stock worth $2,719,000 after purchasing an additional 11,758 shares during the last quarter. Pallas Capital Advisors LLC raised its position in shares of TechnipFMC by 159.0% during the third quarter. Pallas Capital Advisors LLC now owns 23,051 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 14,150 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of TechnipFMC by 152.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 37,440 shares of the oil and gas company’s stock worth $982,000 after acquiring an additional 22,624 shares during the period. Shayne & Jacobs LLC boosted its holdings in TechnipFMC by 0.5% in the third quarter. Shayne & Jacobs LLC now owns 181,520 shares of the oil and gas company’s stock valued at $4,761,000 after acquiring an additional 920 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in TechnipFMC by 4.8% during the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 515 shares during the period. Institutional investors and hedge funds 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.