TechnipFMC (NYSE:FTI) PT Raised to $32.00

TechnipFMC (NYSE:FTI) had its target price increased by stock analysts at Citigroup from $31.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price objective suggests a potential upside of 18.72% from the stock’s previous close.

FTI has been the topic of a number of other research reports. Bank of America upped their target price on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. TD Cowen upped their target price on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Susquehanna upped their target price on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Barclays upped their target price on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Piper Sandler upped their target price on TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.08.

TechnipFMC Price Performance

Shares of FTI stock opened at $26.96 on Wednesday. TechnipFMC has a fifty-two week low of $17.07 and a fifty-two week high of $27.30. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 57.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. The stock’s 50-day simple moving average is $25.73 and its 200-day simple moving average is $23.47.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. The business’s revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts forecast that TechnipFMC will post 1.18 earnings per share for the current fiscal year.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 5,928 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $297,692.54. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Fulton Bank N.A. raised its stake in TechnipFMC by 21.7% in the 2nd quarter. Fulton Bank N.A. now owns 19,279 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 3,432 shares during the last quarter. GAMMA Investing LLC raised its stake in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the last quarter. Atria Investments Inc acquired a new position in TechnipFMC in the 1st quarter valued at $1,684,000. Yaupon Capital Management LP raised its stake in TechnipFMC by 4,931.0% in the 1st quarter. Yaupon Capital Management LP now owns 805,305 shares of the oil and gas company’s stock valued at $20,221,000 after purchasing an additional 789,298 shares during the last quarter. Finally, First Western Trust Bank acquired a new position in TechnipFMC in the 1st quarter valued at $207,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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.