Barclays Boosts TechnipFMC (NYSE:FTI) Price Target to $37.00

TechnipFMC (NYSE:FTI - Free Report) had its target price lifted by Barclays from $34.00 to $37.00 in a research report released on Monday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company's stock.

FTI has been the subject of several other research reports. StockNews.com upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Monday, October 21st. Bank of America raised their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Susquehanna lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday. TD Cowen upped their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Friday. Finally, Citigroup raised their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.65.

TechnipFMC Trading Down 1.5 %

Shares of TechnipFMC stock traded down $0.40 on Monday, hitting $26.08. The stock had a trading volume of 5,329,983 shares, compared to its average volume of 4,087,326. The stock's 50-day simple moving average is $26.13 and its two-hundred day simple moving average is $26.18. TechnipFMC has a one year low of $18.33 and a one year high of $29.85. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 23.81 and a beta of 1.50.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly 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. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company's revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. As a group, sell-side analysts predict that TechnipFMC will post 1.38 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, November 19th. TechnipFMC's payout ratio is presently 18.35%.

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

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently modified their holdings of FTI. Price T Rowe Associates Inc. MD boosted its stake in shares of TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company's stock valued at $1,019,337,000 after purchasing an additional 3,259,348 shares during the period. Vanguard Group Inc. boosted its position in TechnipFMC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company's stock valued at $1,005,652,000 after buying an additional 134,880 shares during the period. Massachusetts Financial Services Co. MA boosted its position in TechnipFMC by 2.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company's stock valued at $228,384,000 after buying an additional 204,435 shares during the period. Anomaly Capital Management LP grew its stake in TechnipFMC by 50.3% in the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company's stock worth $89,429,000 after acquiring an additional 1,144,087 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of TechnipFMC by 4.3% during the second quarter. William Blair Investment Management LLC now owns 2,016,513 shares of the oil and gas company's stock worth $52,732,000 after acquiring an additional 82,872 shares during the period. Hedge funds and other 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.