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

TechnipFMC plc (NYSE:FTI) has received a consensus rating of “Buy” from the fourteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $36.15.

A number of analysts recently commented on FTI shares. The Goldman Sachs Group started coverage on TechnipFMC in a research note on Friday, December 13th. They issued a “buy” rating and a $38.00 price target for the company. Evercore ISI raised their price target on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 29th. Barclays raised their price target on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler assumed coverage on TechnipFMC in a research report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price objective for the company.

Hedge Funds Weigh In On TechnipFMC

Institutional investors and hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its holdings in TechnipFMC by 0.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company’s stock worth $1,220,288,000 after buying an additional 365,527 shares in the last quarter. Vanguard Group Inc. increased its holdings in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after buying an additional 1,623,864 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in TechnipFMC by 15.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company’s stock worth $282,150,000 after buying an additional 1,319,015 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its holdings 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 buying an additional 1,071,103 shares in the last quarter. Finally, State Street Corp increased its holdings in 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 worth $215,100,000 after buying an additional 133,775 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

NYSE:FTI opened at $30.30 on Friday. The business has a 50 day moving average price of $30.74 and a 200-day moving average price of $28.41. TechnipFMC has a fifty-two week low of $19.23 and a fifty-two week high of $33.45. The firm has a market cap of $12.89 billion, a PE ratio of 19.93 and a beta of 1.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase 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.

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.