Barclays Raises TechnipFMC (NYSE:FTI) Price Target to $42.00

TechnipFMC (NYSE:FTI) had its price objective lifted by investment analysts at Barclays from $37.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s target price points to a potential upside of 46.70% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a “buy” rating and a $38.00 target price on the stock. Citigroup lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. HSBC raised 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, TD Cowen reiterated a “buy” rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $35.46.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $28.63 on Wednesday. The firm has a market cap of $12.18 billion, a P/E ratio of 18.84 and a beta of 1.54. The business’s 50 day moving average is $28.63 and its 200-day moving average is $27.05. 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 1-year low of $18.33 and a 1-year high of $32.64.

TechnipFMC (NYSE:FTI) last posted 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. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. Equities research analysts predict that TechnipFMC will post 1.61 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position 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 valued at $29,000 after purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in TechnipFMC during the 3rd quarter worth approximately $30,000. 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 worth $49,000 after acquiring an additional 693 shares during the last quarter. Crewe Advisors LLC acquired a new position in TechnipFMC in the 2nd quarter valued at approximately $51,000. Finally, Toth Financial Advisory Corp raised its stake in shares of TechnipFMC by 1,900.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 1,900 shares during 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.