TechnipFMC (NYSE:FTI) Price Target Increased to $35.00 by Analysts at Susquehanna

TechnipFMC (NYSE:FTI) had its target price increased by investment analysts at Susquehanna from $34.00 to $35.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price suggests a potential upside of 23.33% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Piper Sandler raised their price target on shares of TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Citigroup boosted their price target on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Bank of America raised their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Finally, TD Cowen boosted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.62.

TechnipFMC Price Performance

FTI stock opened at $28.38 on Friday. The company has a market cap of $12.23 billion, a PE ratio of 60.38 and a beta of 1.52. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $25.99 and a two-hundred day moving average price of $24.00. TechnipFMC has a 12-month low of $17.36 and a 12-month high of $29.24.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, research analysts predict that TechnipFMC will post 1.2 EPS for the current year.

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 5,928 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares during the period. Norges Bank bought a new position in shares of TechnipFMC in the fourth quarter worth $61,570,000. Balyasny Asset Management L.P. grew its stake in shares of TechnipFMC by 868.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after purchasing an additional 2,808,618 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of TechnipFMC during the fourth quarter valued at $37,976,000. Finally, TD Asset Management Inc raised its stake in shares of TechnipFMC by 182.8% during the fourth quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock valued at $33,850,000 after purchasing an additional 1,086,400 shares in the last quarter. 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.