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

TechnipFMC (NYSE:FTI) had its price target lifted by equities researchers at Susquehanna from $27.00 to $34.00 in a report released on Friday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential upside of 28.79% from the stock’s previous close.

A number of other brokerages have also issued reports on FTI. Bank of America raised their price target on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. Barclays raised their price target on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. TD Cowen raised their price target on TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective on the stock. in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.81.

TechnipFMC Price Performance

Shares of FTI traded down $0.19 during trading hours on Friday, reaching $26.40. 559,434 shares of the company traded hands, compared to its average volume of 4,681,338. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $11.54 billion, a PE ratio of 221.02 and a beta of 1.65. TechnipFMC has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The stock has a fifty day simple moving average of $24.07 and a 200 day simple moving average of $21.50.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. The firm’s revenue was up 18.9% on a year-over-year basis. As a group, research analysts predict that TechnipFMC will post 1.15 EPS for the current fiscal year.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new position in TechnipFMC during the 3rd quarter valued at approximately $29,000. Johnson Financial Group Inc. acquired a new position in TechnipFMC during the 4th quarter valued at approximately $33,000. Quarry LP boosted its position in TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 768 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in TechnipFMC during the 4th quarter valued at approximately $45,000. Finally, Systematic Alpha Investments LLC acquired a new position in TechnipFMC during the 3rd quarter valued at approximately $146,000. 96.58% of the stock is currently owned by institutional investors.

About TechnipFMC

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.