Barclays Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its price objective upped by stock analysts at Barclays from $37.00 to $42.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective indicates a potential upside of 40.00% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 29th. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research note on Friday, December 6th. Bank of America raised their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. 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 target on the stock. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $35.08.

TechnipFMC Stock Performance

Shares of NYSE:FTI traded up $0.04 during midday trading on Wednesday, reaching $30.00. The company had a trading volume of 311,284 shares, compared to its average volume of 3,979,467. The stock has a market cap of $12.76 billion, a P/E ratio of 19.74 and a beta of 1.54. The company’s 50 day moving average price is $28.58 and its 200 day moving average price is $27.03. 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 52-week low of $18.33 and a 52-week high of $32.64.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TechnipFMC will post 1.61 EPS for the current fiscal year.

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

Institutional Investors Weigh In On TechnipFMC

Hedge funds have recently made changes to their positions in the business. Hardman Johnston Global Advisors LLC raised its position in TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after purchasing an additional 1,071,103 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after buying an additional 204,435 shares during the period. State Street Corp lifted its stake in shares of TechnipFMC by 1.7% in the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after acquiring an additional 133,775 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in TechnipFMC during the 3rd quarter valued at about $185,643,000. Finally, Franklin Resources Inc. increased its stake in TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after purchasing an additional 679,748 shares during the period. 96.58% of the stock is currently owned by institutional investors.

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.