TechnipFMC (NYSE:FTI) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of TechnipFMC (NYSE:FTI) in a research report report published on Thursday, Marketbeat reports. The firm issued an overweight rating and a $39.00 price target on the oil and gas company’s stock.

FTI has been the subject of several other research reports. Susquehanna increased their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Royal Bank of Canada assumed coverage on TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 price objective on the stock. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. BMO Capital Markets lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, Citigroup lifted their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC has an average rating of “Buy” and a consensus target price of $35.46.

TechnipFMC Trading Down 0.8 %

Shares of FTI stock opened at $28.63 on Thursday. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $32.64. The company has a 50-day simple moving average of $28.63 and a two-hundred day simple moving average of $27.05. 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 company 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 issued its quarterly 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 return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $0.21 earnings per share. TechnipFMC’s revenue was up 14.2% on a year-over-year basis. Research analysts anticipate that TechnipFMC will post 1.61 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

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

Hedge Funds Weigh In On TechnipFMC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates boosted its stake 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 purchasing an additional 36,326 shares during the period. Fifth Third Bancorp increased its position in shares of TechnipFMC by 7,374.2% in the second quarter. Fifth Third Bancorp now owns 2,317 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 2,286 shares during the period. Calamos Wealth Management LLC increased its position in shares of TechnipFMC by 9.2% in the second 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 raised its stake in shares of TechnipFMC by 97.0% during the second 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 stake in shares of TechnipFMC by 10.5% in the second 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 last quarter. 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.