Piper Sandler Begins Coverage on TechnipFMC (NYSE:FTI)

Equities research analysts at Piper Sandler initiated coverage on shares of TechnipFMC (NYSE:FTI - Get Free Report) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an "overweight" rating and a $39.00 price target on the oil and gas company's stock. Piper Sandler's target price suggests a potential upside of 36.22% from the company's previous close.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Jefferies Financial Group upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and upped their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. TD Cowen reissued a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Royal Bank of Canada started coverage on TechnipFMC in a report on Monday, November 18th. They issued an "outperform" rating and a $37.00 price target for the company. Finally, Citigroup raised their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of "Buy" and a consensus price target of $35.46.

TechnipFMC Stock Performance

FTI traded down $0.22 during trading on Thursday, hitting $28.63. The stock had a trading volume of 3,959,371 shares, compared to its average volume of 3,998,216. The firm has a market capitalization of $12.18 billion, a P/E ratio of 18.84 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC has a twelve month low of $18.33 and a twelve month high of $32.64. The company's 50-day moving average price is $28.63 and its 200 day moving average price is $27.05.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. On average, equities research analysts forecast that TechnipFMC will post 1.61 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has authorized a stock buyback 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 purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock valued at $29,000 after buying an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC during the third quarter valued at approximately $30,000. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 693 shares during the last quarter. Crewe Advisors LLC acquired a new position in TechnipFMC during the 2nd quarter valued at approximately $51,000. Finally, Toth Financial Advisory Corp grew its stake in TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company's stock worth $52,000 after buying an additional 1,900 shares during the last quarter. 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.