TechnipFMC plc (NYSE:FTI) Receives Average Rating of “Moderate Buy” from Analysts

TechnipFMC plc (NYSE:FTI) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $48.5833.

FTI has been the topic of a number of research analyst reports. BNP Paribas Exane set a $47.00 price objective on shares of TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. Piper Sandler increased their price target on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Barclays upped their target price on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Susquehanna lifted their price target on shares of TechnipFMC from $48.00 to $56.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th.

Institutional Investors Weigh In On TechnipFMC

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of TechnipFMC during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. raised its position in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in TechnipFMC during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $56.14 on Friday. The firm has a 50 day moving average of $49.01 and a 200-day moving average of $42.28. The company has a market cap of $22.71 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC has a 52 week low of $22.11 and a 52 week high of $57.64.

TechnipFMC declared that its board has authorized a share repurchase plan on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.