TechnipFMC (NYSE:FTI) Price Target Raised to $32.00 at TD Cowen

TechnipFMC (NYSE:FTI) had its target price lifted by TD Cowen from $30.00 to $32.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective points to a potential upside of 20.08% from the company’s current price.

A number of other brokerages have also recently commented on FTI. Susquehanna lifted their price target on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research note on Friday. Barclays lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. HSBC cut 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. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of TechnipFMC in a research note on Friday. Finally, StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Five 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 $26.07.

TechnipFMC Price Performance

Shares of NYSE FTI traded up $0.06 during trading hours on Friday, reaching $26.65. 2,177,249 shares of the stock traded hands, compared to its average volume of 4,702,304. The company has a market capitalization of $11.65 billion, a P/E ratio of 222.10 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. TechnipFMC has a 52-week low of $12.64 and a 52-week high of $27.26. The company’s 50-day simple moving average is $24.07 and its two-hundred day simple moving average is $21.50.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. TechnipFMC’s quarterly revenue was up 18.9% on a year-over-year basis. Equities research analysts forecast that TechnipFMC will post 1.15 EPS for the current year.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently made changes to their positions in FTI. Parkside Financial Bank & Trust bought a new stake in TechnipFMC in the third quarter worth $29,000. Johnson Financial Group Inc. purchased a new position in shares of TechnipFMC in the fourth quarter worth $33,000. Quarry LP raised its stake in shares of TechnipFMC by 76.6% in the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of TechnipFMC in the fourth quarter worth $45,000. Finally, Systematic Alpha Investments LLC purchased a new position in shares of TechnipFMC in the third quarter worth $146,000. 96.58% of the stock is currently owned by 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.