TechnipFMC (NYSE:FTI) PT Raised to $28.50 at Bank of America

TechnipFMC (NYSE:FTI) had its price target lifted by investment analysts at Bank of America from $24.00 to $28.50 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s price objective would suggest a potential upside of 10.21% from the company’s current price.

A number of other equities analysts also recently issued reports on FTI. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. in a research note on Friday, February 23rd. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday. Benchmark restated a “buy” rating and issued a $30.00 price target (up from $25.00) on shares of TechnipFMC in a research note on Monday, April 1st. TD Cowen lifted their target price on TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Barclays lifted their target price on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $25.34.

TechnipFMC Stock Down 0.0 %

FTI stock traded down $0.01 on Monday, reaching $25.86. 256,460 shares of the company traded hands, compared to its average volume of 4,775,029. TechnipFMC has a one year low of $12.64 and a one year high of $27.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The company has a market cap of $11.30 billion, a P/E ratio of 217.77 and a beta of 1.65. The firm has a fifty day simple moving average of $22.92 and a 200-day simple moving average of $21.16.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. Research analysts anticipate that TechnipFMC will post 1.15 earnings per share for the current year.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inceptionr LLC raised its holdings in shares of TechnipFMC by 2.2% in the fourth quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after buying an additional 540 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of TechnipFMC by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock worth $2,571,000 after buying an additional 660 shares during the period. Fulton Bank N.A. raised its holdings in shares of TechnipFMC by 6.8% in the fourth quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock worth $217,000 after buying an additional 683 shares during the period. Janney Capital Management LLC raised its holdings in shares of TechnipFMC by 2.8% in the third quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after buying an additional 722 shares during the period. Finally, Dfpg Investments LLC raised its holdings in shares of TechnipFMC by 2.4% in the fourth quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock worth $623,000 after buying an additional 738 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

About TechnipFMC

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.