TechnipFMC plc (NYSE:FTI) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of TechnipFMC plc (NYSE:FTI) have earned a consensus recommendation of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $36.15.

FTI has been the subject of a number of recent research reports. Barclays boosted their price target on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen restated a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price target for the company. The Goldman Sachs Group began coverage on TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Citigroup lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC lifted its holdings in TechnipFMC by 4.1% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 338 shares in the last quarter. Yousif Capital Management LLC increased its stake in TechnipFMC by 4.6% in the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 357 shares during the last quarter. Sigma Planning Corp increased its stake in TechnipFMC by 3.3% in the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock worth $334,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC increased its stake in TechnipFMC by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 414 shares during the last quarter. Finally, Ballentine Partners LLC increased its stake in TechnipFMC by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 423 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 0.0 %

TechnipFMC stock opened at $30.30 on Friday. The business has a 50-day simple moving average of $30.74 and a two-hundred day simple moving average of $28.41. The company has a market cap of $12.89 billion, a P/E ratio of 19.93 and a beta of 1.52. TechnipFMC has a 52-week low of $19.23 and a 52-week high of $33.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC declared that its board has approved a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.