Susquehanna Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

TechnipFMC (NYSE:FTI) had its target price lifted by research analysts at Susquehanna from $71.00 to $82.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target indicates a potential upside of 15.71% from the stock’s current price.

A number of other research firms also recently issued reports on FTI. Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. UBS Group set a $70.00 price objective on TechnipFMC in a research note on Friday, February 20th. BMO Capital Markets increased their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded up $0.71 during mid-day trading on Wednesday, hitting $70.87. 1,310,069 shares of the stock were exchanged, compared to its average volume of 4,086,230. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The company has a market capitalization of $28.46 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.25 and a beta of 0.70. The company has a 50-day simple moving average of $60.76 and a 200 day simple moving average of $48.88. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $71.49.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. Sell-side analysts anticipate that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Alf Melin sold 83,721 shares of TechnipFMC stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the transaction, the chief financial officer directly owned 282,537 shares in the company, valued at approximately $17,469,262.71. The trade was a 22.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $2,993,580.93. Following the sale, the executive vice president owned 78,871 shares in the company, valued at approximately $4,923,916.53. The trade was a 37.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,210,092 shares of company stock worth $75,322,232 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank bought a new stake in TechnipFMC during the 4th quarter worth approximately $205,468,000. Invesco Ltd. lifted its stake in TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares in the last quarter. AQR Capital Management LLC boosted its holdings in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after purchasing an additional 3,549,839 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of TechnipFMC by 184.0% during the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock valued at $189,460,000 after purchasing an additional 3,111,399 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.