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

The Goldman Sachs Group assumed coverage on shares of TechnipFMC (NYSE:FTI) in a research note released on Friday, MarketBeat.com reports. The firm issued a buy rating and a $38.00 price target on the oil and gas company’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. TD Cowen reissued a “buy” rating and issued a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Royal Bank of Canada assumed coverage on TechnipFMC in a research note on Monday, November 18th. They issued an “outperform” rating and a $37.00 target price for the company. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Bank of America raised their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of “Buy” and an average target price of $34.69.

TechnipFMC Price Performance

Shares of FTI stock opened at $31.00 on Friday. 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 fifty-two week low of $18.33 and a fifty-two week high of $32.64. The firm has a market cap of $13.19 billion, a P/E ratio of 20.39 and a beta of 1.54. The business’s 50 day moving average price is $28.45 and its 200-day moving average price is $26.97.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts anticipate that TechnipFMC will post 1.61 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio (DPR) is 13.16%.

TechnipFMC declared that its Board of Directors has initiated 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 purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently added to or reduced their stakes in FTI. Blue Trust Inc. raised its position in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new position in TechnipFMC during the third quarter valued at approximately $30,000. ORG Partners LLC bought a new position in TechnipFMC during the second quarter valued at approximately $33,000. GAMMA Investing LLC boosted its holdings in TechnipFMC by 59.5% in the third 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. Finally, Crewe Advisors LLC bought a new stake in TechnipFMC in the 2nd quarter worth approximately $51,000. 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.