Piper Sandler Begins Coverage on TechnipFMC (NYSE:FTI)

Equities researchers at Piper Sandler began coverage on shares of TechnipFMC (NYSE:FTI) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $39.00 price target on the oil and gas company’s stock. Piper Sandler’s target price points to a potential upside of 34.99% from the company’s previous close.

Several other equities research analysts have also recently issued reports on FTI. Bank of America raised their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BMO Capital Markets lifted their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Susquehanna increased their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $35.46.

TechnipFMC Trading Up 0.9 %

Shares of NYSE FTI opened at $28.89 on Thursday. The firm’s 50 day moving average price is $28.63 and its 200-day moving average price is $27.05. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $32.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The company has a market cap of $12.29 billion, a PE ratio of 19.01 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities research analysts expect that TechnipFMC will post 1.61 EPS for the current fiscal year.

TechnipFMC announced 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in 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 purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of TechnipFMC in the 3rd quarter worth approximately $30,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 693 shares in the last quarter. Crewe Advisors LLC purchased a new position in TechnipFMC in the second quarter valued at about $51,000. Finally, Toth Financial Advisory Corp grew its position in shares of TechnipFMC by 1,900.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.