TechnipFMC (NYSE:FTI) Now Covered by Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of TechnipFMC (NYSE:FTI) in a research report report published on Monday, Marketbeat reports. The firm issued an outperform rating and a $37.00 price target on the oil and gas company’s stock.

A number of other research firms have also weighed in on FTI. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Bank of America raised their target price on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Finally, Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $33.91.

TechnipFMC Stock Up 1.2 %

Shares of TechnipFMC stock opened at $28.51 on Monday. The stock’s 50-day moving average is $26.63 and its 200 day moving average is $26.38. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 18.76 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC has a one year low of $18.33 and a one year high of $29.85.

TechnipFMC (NYSE:FTI) last posted 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 return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts anticipate that TechnipFMC will post 1.55 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

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

Hedge Funds Weigh In On TechnipFMC

Several hedge funds have recently made changes to their positions in FTI. Janney Montgomery Scott LLC purchased a new position in shares of TechnipFMC in the first quarter valued at $205,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of TechnipFMC in the first quarter valued at $236,000. Vanguard Group Inc. grew its position in shares of TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after purchasing an additional 134,880 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of TechnipFMC in the first quarter valued at $965,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TechnipFMC in the first quarter valued at $442,000. 96.58% of the stock is currently 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.