Analysts Set TechnipFMC plc (NYSE:FTI) PT at $36.15

TechnipFMC plc (NYSE:FTI) has been assigned a consensus recommendation of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $36.15.

A number of research firms have issued reports on FTI. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Susquehanna upped their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Bank of America upped their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. Barclays upped their target price on shares of TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th.

Institutional Trading of TechnipFMC

Institutional investors and hedge funds have recently bought and sold shares of the business. Baker Tilly Wealth Management LLC grew its position in TechnipFMC by 4.1% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 338 shares in the last quarter. Yousif Capital Management LLC grew its position in TechnipFMC by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 357 shares in the last quarter. GAMMA Investing LLC grew its position in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 414 shares in the last quarter. Ballentine Partners LLC grew its position in TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 423 shares in the last quarter. Finally, Creative Planning grew its position in 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 acquiring an additional 546 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Price Performance

NYSE:FTI opened at $30.72 on Wednesday. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 20.21 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average is $30.78 and its two-hundred day moving average is $28.18. TechnipFMC has a 12-month low of $18.53 and a 12-month high of $33.45.

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

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.