TechnipFMC (NYSE:FTI) Upgraded by Jefferies Financial Group to "Buy" Rating

Jefferies Financial Group upgraded shares of TechnipFMC (NYSE:FTI - Free Report) from a hold rating to a buy rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has $40.00 price target on the oil and gas company's stock, up from their previous price target of $29.00.

A number of other research analysts have also commented on the stock. TD Cowen restated a "buy" rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Barclays boosted their price target on TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. HSBC upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $34.42.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded down $1.22 on Friday, hitting $30.73. The stock had a trading volume of 5,334,805 shares, compared to its average volume of 4,007,861. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 20.62 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 52-week low of $18.33 and a 52-week high of $32.64. The company's 50 day moving average price is $27.99 and its 200 day moving average price is $26.77.

TechnipFMC (NYSE:FTI - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, research analysts anticipate that TechnipFMC will post 1.58 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.65%. TechnipFMC's payout ratio is currently 13.16%.

TechnipFMC announced that its board has initiated a share buyback plan 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after acquiring an additional 679,748 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of TechnipFMC by 264.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company's stock worth $755,000 after purchasing an additional 20,877 shares in the last quarter. Morse Asset Management Inc increased its stake in shares of TechnipFMC by 1.9% during the 3rd quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company's stock worth $1,772,000 after purchasing an additional 1,245 shares in the last quarter. TCW Group Inc. acquired a new position in shares of TechnipFMC during the 3rd quarter worth approximately $6,049,000. Finally, M&T Bank Corp lifted its stake in TechnipFMC by 18.8% in the 3rd quarter. M&T Bank Corp now owns 20,602 shares of the oil and gas company's stock valued at $541,000 after buying an additional 3,255 shares in 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.