TechnipFMC (NYSE:FTI) Price Target Raised to $34.00 at Barclays

TechnipFMC (NYSE:FTI) had its price target raised by Barclays from $33.00 to $34.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective would indicate a potential upside of 27.34% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a report on Friday, February 23rd. Bank of America upped their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. TD Cowen increased their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of TechnipFMC in a research note on Friday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.14.

TechnipFMC Stock Up 0.4 %

Shares of FTI stock traded up $0.11 on Monday, reaching $26.70. 1,286,818 shares of the company were exchanged, compared to its average volume of 4,677,757. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 56.72 and a beta of 1.65. The company has a 50-day moving average of $24.21 and a 200-day moving average of $21.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.16 and a quick ratio of 0.87. TechnipFMC has a one year low of $12.64 and a one year high of $27.26.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data 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. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.60%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. Analysts anticipate that TechnipFMC will post 1.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following 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 is available through the SEC website. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TechnipFMC

Large investors have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. purchased a new position in TechnipFMC in the 4th quarter worth $37,976,000. Cerity Partners LLC purchased a new position in shares of TechnipFMC in the fourth quarter valued at about $6,836,000. SG Americas Securities LLC increased its position in shares of TechnipFMC by 71.1% in the fourth quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock valued at $3,072,000 after acquiring an additional 63,378 shares during the period. Syntal Capital Partners LLC purchased a new position in shares of TechnipFMC in the third quarter valued at about $665,000. Finally, Vanguard Group Inc. increased its position in shares of TechnipFMC by 320.3% in the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after acquiring an additional 30,323,011 shares during the period. Hedge funds and other 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.