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

TechnipFMC (NYSE:FTI) had its price target hoisted by Evercore ISI from $37.00 to $39.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler started coverage on TechnipFMC in a report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price target on the stock. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Finally, HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TechnipFMC currently has an average rating of “Buy” and an average price target of $36.15.

TechnipFMC Trading Down 0.3 %

NYSE:FTI opened at $32.35 on Wednesday. The firm has a market capitalization of $13.76 billion, a P/E ratio of 21.28 and a beta of 1.54. The business has a 50 day simple moving average of $30.21 and a 200 day simple moving average of $27.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC has a 12-month low of $18.50 and a 12-month high of $33.45.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) 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 company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities research analysts predict that TechnipFMC will post 1.61 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC announced that its board has approved a share repurchase plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new position in TechnipFMC during the 2nd quarter worth approximately $263,000. Massachusetts Financial Services Co. MA grew its holdings in shares of TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after buying an additional 204,435 shares in the last quarter. Renaissance Technologies LLC raised its position in TechnipFMC by 8.3% during the second quarter. Renaissance Technologies LLC now owns 355,900 shares of the oil and gas company’s stock valued at $9,307,000 after buying an additional 27,300 shares during the period. Primecap Management Co. CA lifted its stake in TechnipFMC by 0.5% in the 2nd quarter. Primecap Management Co. CA now owns 1,891,100 shares of the oil and gas company’s stock worth $49,452,000 after acquiring an additional 9,400 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in TechnipFMC by 2.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock valued at $702,000 after acquiring an additional 616 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.