TechnipFMC (NYSE:FTI) Price Target Raised to $34.00

TechnipFMC (NYSE:FTI) had its target price raised by Susquehanna from $27.00 to $34.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target suggests a potential upside of 28.79% from the company’s previous close.

A number of other analysts also recently issued reports on FTI. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price (up previously from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Barclays lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. TD Cowen lifted their price target on TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a report on Friday, February 23rd. Five research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.81.

TechnipFMC Stock Down 0.7 %

Shares of NYSE:FTI traded down $0.19 during midday trading on Friday, reaching $26.40. The company had a trading volume of 559,434 shares, compared to its average volume of 4,681,338. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $24.07 and its 200 day moving average price is $21.50. The stock has a market cap of $11.54 billion, a PE ratio of 221.02 and a beta of 1.65. TechnipFMC has a 1-year low of $12.64 and a 1-year high of $27.26.

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

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the 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 owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in TechnipFMC by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after purchasing an additional 126,247 shares during the last quarter. Invesco Ltd. lifted its stake in TechnipFMC by 75.7% during the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after purchasing an additional 5,587,050 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TechnipFMC by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,214,539 shares of the oil and gas company’s stock worth $207,764,000 after purchasing an additional 593,828 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after acquiring an additional 3,283,972 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of TechnipFMC by 68.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company’s stock valued at $81,380,000 after acquiring an additional 1,629,170 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.