Piper Sandler Increases TechnipFMC (NYSE:FTI) Price Target to $34.00

TechnipFMC (NYSE:FTI) had its price objective lifted by research analysts at Piper Sandler from $30.00 to $34.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price would suggest a potential upside of 30.97% from the stock’s previous close.

A number of other analysts have also recently commented on FTI. Susquehanna lifted their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Barclays increased their price objective on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 29th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective on the stock. in a report on Friday, February 23rd. Finally, Benchmark reissued a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.21.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $25.96 on Monday. The company has a market capitalization of $11.19 billion, a PE ratio of 55.23 and a beta of 1.62. The company has a 50-day simple moving average of $24.74 and a two-hundred day simple moving average of $21.75. TechnipFMC has a one year low of $12.77 and a one year high of $27.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business’s revenue was up 18.9% compared to the same quarter last year. Research analysts expect that TechnipFMC will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the transaction, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. raised its holdings in shares of TechnipFMC by 128.1% in the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after buying an additional 19,451 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of TechnipFMC by 14.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 1,674 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TechnipFMC by 17.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after purchasing an additional 13,265 shares in the last quarter. Mackenzie Financial Corp increased its stake in TechnipFMC by 50.0% during the 3rd quarter. Mackenzie Financial Corp now owns 836,307 shares of the oil and gas company’s stock worth $16,659,000 after buying an additional 278,637 shares during the period. Finally, Calamos Wealth Management LLC acquired a new stake in TechnipFMC during the 3rd quarter worth approximately $1,207,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.