TechnipFMC plc (NYSE:FTI – Get Rating) has been assigned a consensus rating of "Moderate Buy" from the thirteen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.35.

Several research firms have recently commented on FTI. Bank of America raised shares of TechnipFMC from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $9.50 to $8.00 in a report on Friday, July 15th. BNP Paribas raised shares of TechnipFMC from a "neutral" rating to an "outperform" rating and set a $14.50 price objective on the stock in a report on Wednesday. Cowen dropped their price objective on shares of TechnipFMC from $15.00 to $14.00 and set an "outperform" rating on the stock in a report on Thursday, June 23rd. Cowen lowered their price target on shares of TechnipFMC from $15.00 to $14.00 and set an "outperform" rating on the stock in a report on Thursday, June 23rd. Finally, Exane BNP Paribas raised shares of TechnipFMC from a "neutral" rating to an "outperform" rating in a report on Wednesday.

TechnipFMC Trading Down 6.8 %

Shares of TechnipFMC stock opened at $8.35 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. TechnipFMC has a 12-month low of $5.47 and a 12-month high of $9.49. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -15.18 and a beta of 1.87. The firm's 50 day simple moving average is $8.20 and its two-hundred day simple moving average is $7.70.

TechnipFMC declared that its board has authorized a share buyback program on Wednesday, July 27th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 13.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

A number of large investors have recently added to or reduced their stakes in FTI. FMR LLC raised its position in TechnipFMC by 40.8% during the second quarter. FMR LLC now owns 45,221,055 shares of the oil and gas company's stock worth $304,337,000 after acquiring an additional 13,097,003 shares during the period. Van ECK Associates Corp raised its position in TechnipFMC by 51.1% during the first quarter. Van ECK Associates Corp now owns 23,010,341 shares of the oil and gas company's stock worth $178,330,000 after acquiring an additional 7,779,683 shares during the period. Pzena Investment Management LLC raised its position in shares of TechnipFMC by 29.6% in the first quarter. Pzena Investment Management LLC now owns 27,285,730 shares of the oil and gas company's stock valued at $211,464,000 after buying an additional 6,235,651 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of TechnipFMC in the second quarter valued at about $40,881,000. Finally, Brandes Investment Partners LP raised its position in shares of TechnipFMC by 102.1% in the first quarter. Brandes Investment Partners LP now owns 9,487,922 shares of the oil and gas company's stock valued at $73,531,000 after buying an additional 4,793,422 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Company Profile

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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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