TechnipFMC (NYSE:FTI) Price Target Raised to $83.00 at Susquehanna
by Sarita Garza · The Markets DailyTechnipFMC (NYSE:FTI – Get Free Report) had its target price boosted by equities research analysts at Susquehanna from $82.00 to $83.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target would indicate a potential upside of 14.77% from the stock’s previous close.
Several other research analysts have also commented on FTI. BMO Capital Markets boosted their price target on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Citigroup boosted their price target on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, The Goldman Sachs Group boosted their price target on TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.27.
View Our Latest Analysis on FTI
TechnipFMC Stock Up 1.0%
Shares of FTI traded up $0.73 during trading hours on Tuesday, hitting $72.32. The company had a trading volume of 336,145 shares, compared to its average volume of 3,975,761. The company has a market capitalization of $29.04 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.31 and a beta of 0.71. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. TechnipFMC has a one year low of $22.11 and a one year high of $72.59. The company’s fifty day moving average price is $63.85 and its two-hundred day moving average price is $50.83.
TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. As a group, equities analysts forecast that TechnipFMC will post 1.63 earnings per share for the current fiscal year.
Insider Transactions at TechnipFMC
In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alf Melin sold 43,554 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02. Following the completion of the sale, the chief financial officer owned 238,983 shares in the company, valued at $15,086,996.79. The trade was a 15.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,216,442 shares of company stock valued at $75,762,414. 1.80% of the stock is owned by insiders.
Institutional Trading of TechnipFMC
Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in shares of TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after buying an additional 657 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of TechnipFMC in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC during the third quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its position in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.
TechnipFMC Company Profile
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.