Citigroup Forecasts Strong Price Appreciation for TechnipFMC (NYSE:FTI) Stock

TechnipFMC (NYSE:FTI) had its target price boosted by research analysts at Citigroup from $34.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s target price suggests a potential upside of 23.67% from the company’s previous close.

Several other research analysts have also issued reports on the stock. TD Cowen increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. BMO Capital Markets upped their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Barclays increased their price target on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.60.

TechnipFMC Trading Up 0.2 %

Shares of NYSE FTI traded up $0.06 during midday trading on Thursday, reaching $28.30. The stock had a trading volume of 1,523,186 shares, compared to its average volume of 4,008,370. TechnipFMC has a twelve month low of $18.33 and a twelve month high of $29.85. The company’s 50 day moving average price is $26.39 and its 200 day moving average price is $26.33. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 18.59 and a beta of 1.51. 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) last issued its quarterly 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 firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $0.21 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that TechnipFMC will post 1.47 EPS for the current year.

TechnipFMC declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently made changes to their positions in FTI. Oak Thistle LLC boosted its stake in TechnipFMC by 3.2% in the second quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after acquiring an additional 421 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in TechnipFMC by 5.1% in the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after purchasing an additional 433 shares during the last quarter. GAMMA Investing LLC grew its holdings in TechnipFMC by 73.1% during the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the period. Ballentine Partners LLC increased its position in TechnipFMC by 4.8% in the third quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after buying an additional 515 shares during the last quarter. Finally, Creative Planning raised its stake in shares of TechnipFMC by 3.2% in the second quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after buying an additional 546 shares during the period. 96.58% of the stock is 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.