Citigroup Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its price objective boosted by Citigroup from $34.00 to $35.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Several other equities research analysts have also recently commented on FTI. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Barclays upped their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Bank of America upped their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Susquehanna raised their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.60.

TechnipFMC Stock Down 1.5 %

FTI stock traded down $0.43 during trading hours on Thursday, hitting $28.06. The company’s stock had a trading volume of 1,801,099 shares, compared to its average volume of 4,011,227. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11.94 billion, a PE ratio of 18.74 and a beta of 1.51. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85. The stock has a 50 day moving average price of $26.45 and a two-hundred day moving average price of $26.34.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The business’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts expect that TechnipFMC will post 1.47 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.71%. TechnipFMC’s dividend payout ratio is 13.16%.

TechnipFMC announced that its board has initiated a share repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently modified their holdings of FTI. Millburn Ridgefield Corp acquired a new position in TechnipFMC in the third quarter valued at about $189,000. Morse Asset Management Inc boosted its stake in shares of TechnipFMC by 2.6% during the third quarter. Morse Asset Management Inc now owns 68,075 shares of the oil and gas company’s stock valued at $1,786,000 after purchasing an additional 1,745 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in TechnipFMC by 68.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company’s stock worth $44,454,000 after acquiring an additional 688,622 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in TechnipFMC in the third quarter valued at $311,000. Finally, True Wealth Design LLC bought a new position in shares of TechnipFMC during the third quarter worth about $57,000. 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.