TechnipFMC (NYSE:FTI) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of TechnipFMC (NYSE:FTI - Free Report) in a research report report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $38.00 price objective on the oil and gas company's stock.

Several other equities research analysts have also recently commented on FTI. BMO Capital Markets increased their price objective on TechnipFMC from $32.00 to $33.00 and gave the company a "market perform" rating in a research report on Thursday, October 10th. Citigroup boosted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Bank of America increased their target price on TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. Finally, Barclays boosted their price target on TechnipFMC from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $34.69.

TechnipFMC Stock Up 0.4 %

Shares of FTI traded up $0.12 during trading hours on Friday, hitting $31.00. The company had a trading volume of 2,355,298 shares, compared to its average volume of 3,994,273. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $32.64. The firm has a fifty day moving average price of $28.38 and a 200-day moving average price of $26.92. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 20.30 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 (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business's revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. 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 repurchase program on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders 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 dividend yield of 0.65%. TechnipFMC's payout ratio is 13.16%.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 735 shares during the period. ORG Wealth Partners LLC purchased a new position in TechnipFMC in the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new position in TechnipFMC in the 2nd quarter worth approximately $33,000. GAMMA Investing LLC grew its holdings in TechnipFMC by 59.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock valued at $49,000 after buying an additional 693 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of TechnipFMC during the second quarter valued at approximately $51,000. 96.58% of the stock is owned by 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.