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

TechnipFMC (NYSE:FTI) had its target price upped by equities researchers at Citigroup from $48.00 to $76.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target indicates a potential upside of 13.03% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of TechnipFMC in a research report on Thursday, January 22nd. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. UBS Group set a $70.00 price objective on shares of TechnipFMC in a research report on Friday, February 20th. Barclays reissued an “overweight” rating and set a $69.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. Finally, BMO Capital Markets boosted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.93.

TechnipFMC Price Performance

NYSE FTI traded up $1.11 during midday trading on Thursday, hitting $67.24. The company had a trading volume of 2,365,548 shares, compared to its average volume of 3,770,986. TechnipFMC has a twelve month low of $22.11 and a twelve month high of $67.24. The firm has a 50-day moving average price of $53.61 and a 200-day moving average price of $44.93. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $26.90 billion, a PE ratio of 29.11, a P/E/G ratio of 1.25 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the business posted $0.54 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total value of $415,290.00. Following the transaction, the director owned 97,860 shares in the company, valued at approximately $6,400,044. This represents a 6.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TechnipFMC

A number of large investors have recently modified their holdings of FTI. AQR Capital Management LLC increased its stake in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after purchasing an additional 3,549,839 shares in the last quarter. State Street Corp raised its holdings in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after acquiring an additional 4,938,498 shares during the last quarter. Invesco Ltd. lifted its position in TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after acquiring an additional 4,437,960 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in TechnipFMC by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock valued at $409,262,000 after purchasing an additional 232,491 shares during the last quarter. Finally, Boston Partners increased its holdings in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.