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

TechnipFMC (NYSE:FTI) had its target price raised by investment analysts at Susquehanna from $27.00 to $34.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would suggest a potential upside of 27.87% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Barclays boosted their price objective on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Benchmark restated a “buy” rating and set a $30.00 price target (up previously from $25.00) on shares of TechnipFMC in a research report on Monday, April 1st. Bank of America lifted their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. TD Cowen increased their target price on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.07.

TechnipFMC Price Performance

FTI opened at $26.59 on Friday. TechnipFMC has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The firm has a market capitalization of $11.62 billion, a P/E ratio of 56.57 and a beta of 1.65. The company’s 50-day moving average is $24.21 and its 200 day moving average is $21.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.92.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The business’s quarterly revenue was up 18.9% on a year-over-year basis. Research analysts expect that TechnipFMC will post 1.15 earnings per share for the current fiscal year.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Institutional Trading of TechnipFMC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Triasima Portfolio Management inc. purchased a new position in shares of TechnipFMC during the 1st quarter valued at $205,000. Yousif Capital Management LLC bought a new stake in TechnipFMC in the 1st quarter worth approximately $204,000. Raymond James & Associates boosted its stake in TechnipFMC by 15.6% in the first quarter. Raymond James & Associates now owns 303,060 shares of the oil and gas company’s stock worth $7,610,000 after buying an additional 40,869 shares in the last quarter. Oak Harvest Investment Services bought a new position in TechnipFMC during the first quarter valued at approximately $1,186,000. Finally, Norden Group LLC raised its stake in shares of TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after acquiring an additional 366,266 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other 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.