TechnipFMC (NYSE:FTI) Given New $39.00 Price Target at Evercore ISI

TechnipFMC (NYSE:FTI - Free Report) had its target price lifted by Evercore ISI from $37.00 to $39.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the oil and gas company's stock.

Other research analysts also recently issued reports about the company. Citigroup boosted their price target on TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Hsbc Global Res raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective for the company. Barclays raised their target price on TechnipFMC from $37.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. 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. One research 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. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $36.15.

TechnipFMC Stock Performance

NYSE FTI traded down $0.09 on Wednesday, hitting $32.38. 5,294,069 shares of the company's stock traded hands, compared to its average volume of 3,662,760. The firm's 50-day moving average price is $30.12 and its two-hundred day moving average price is $27.79. The firm has a market capitalization of $13.77 billion, a PE ratio of 21.30 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC has a 1-year low of $18.50 and a 1-year high of $33.45.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate 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 net margin of 7.63% and a return on equity of 20.11%. The firm's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, analysts expect that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a $0.05 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. TechnipFMC's payout ratio is 13.16%.

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 outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in TechnipFMC during the third quarter worth $185,643,000. Westfield Capital Management Co. LP purchased a new position in shares of TechnipFMC during the 3rd quarter worth $49,273,000. Jennison Associates LLC boosted its position in shares of TechnipFMC by 95.0% during the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company's stock valued at $61,918,000 after acquiring an additional 1,150,049 shares during the last quarter. Anomaly Capital Management LP grew its holdings in shares of TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company's stock valued at $89,429,000 after purchasing an additional 1,144,087 shares during the period. Finally, Hardman Johnston Global Advisors LLC increased its position in TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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.