TechnipFMC plc (NYSE:FTI) Given Consensus Recommendation of “Moderate Buy” by Analysts

TechnipFMC plc (NYSE:FTI) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research 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 twelve-month target price among brokerages that have covered the stock in the last year is $48.5833.

Several brokerages have recently issued reports on FTI. BNP Paribas Exane set a $47.00 price objective on TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, October 10th. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, January 7th. Citigroup lifted their price objective on shares of TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group upped their price objective on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Piper Sandler increased their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th.

TechnipFMC Stock Performance

Shares of FTI stock opened at $55.70 on Friday. The business has a fifty day moving average of $48.09 and a 200 day moving average of $41.68. TechnipFMC has a 1 year low of $22.11 and a 1 year high of $56.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The firm has a market capitalization of $22.53 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66.

TechnipFMC announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 13.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On TechnipFMC

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

TechnipFMC Company Profile

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.