TechnipFMC (NYSE:FTI) Stock Price Expected to Rise, Piper Sandler Analyst Says

TechnipFMC (NYSE:FTI) had its target price increased by equities researchers at Piper Sandler from $85.00 to $88.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler‘s price target indicates a potential upside of 31.70% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup upped their price objective on shares of TechnipFMC from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Weiss Ratings lowered shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Barclays increased their price target on shares of TechnipFMC from $86.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Susquehanna reduced their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $78.18.

TechnipFMC Stock Down 2.8%

Shares of FTI stock opened at $66.82 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $72.11 and a 200 day moving average of $69.07. TechnipFMC has a twelve month low of $41.06 and a twelve month high of $80.70. The stock has a market cap of $26.20 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.14 and a beta of 0.83.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that TechnipFMC will post 3.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider Thierry Conti sold 6,000 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the sale, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins bought 6,365 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTI. Calamos Wealth Management LLC raised its stake in TechnipFMC by 38.6% during the 3rd quarter. Calamos Wealth Management LLC now owns 71,290 shares of the oil and gas company’s stock worth $4,842,000 after acquiring an additional 19,868 shares in the last quarter. Calamos Advisors LLC grew its holdings in shares of TechnipFMC by 20.5% during the third quarter. Calamos Advisors LLC now owns 312,713 shares of the oil and gas company’s stock worth $21,239,000 after purchasing an additional 53,255 shares during the last quarter. Alta Advisers Ltd purchased a new position in shares of TechnipFMC during the third quarter worth about $200,000. Kestra Advisory Services LLC increased its position in shares of TechnipFMC by 19.8% during the third quarter. Kestra Advisory Services LLC now owns 21,726 shares of the oil and gas company’s stock worth $1,476,000 after purchasing an additional 3,598 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of TechnipFMC by 55.6% during the third quarter. Covestor Ltd now owns 742 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 265 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Company Profile

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.