Susquehanna Boosts TechnipFMC (NYSE:FTI) Price Target to $90.00

TechnipFMC (NYSE:FTI) had its price objective lifted by investment analysts at Susquehanna from $83.00 to $90.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential upside of 18.96% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of TechnipFMC from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Barclays reaffirmed an “overweight” rating and issued a $70.00 target price on shares of TechnipFMC in a report on Friday. BMO Capital Markets lifted 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, February 23rd. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and lifted their target price for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Finally, UBS Group set a $70.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.27.

TechnipFMC Stock Down 1.7%

Shares of TechnipFMC stock opened at $75.65 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The stock has a market capitalization of $30.38 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. TechnipFMC has a 52-week low of $28.00 and a 52-week high of $77.78. The company has a 50-day simple moving average of $69.08 and a two-hundred day simple moving average of $54.98.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. On average, analysts anticipate that TechnipFMC will post 2.92 EPS for the current fiscal year.

Insider Activity

In other news, EVP Justin Rounce sold 172,276 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the transaction, the executive vice president directly owned 119,667 shares of the company’s stock, valued at $7,431,320.70. The trade was a 59.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Landes sold 116,194 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.20, for a total transaction of $7,227,266.80. Following the transaction, the insider directly owned 71,356 shares of the company’s stock, valued at $4,438,343.20. The trade was a 61.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,216,442 shares of company stock valued at $75,762,414 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of TechnipFMC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTI. State Street Corp increased its holdings in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after buying an additional 4,938,498 shares during the last quarter. Norges Bank purchased a new stake in TechnipFMC during the fourth quarter valued at approximately $205,468,000. Invesco Ltd. increased its holdings in TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares during the last quarter. AQR Capital Management LLC increased its holdings in TechnipFMC by 26.7% during the fourth 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 buying an additional 3,549,839 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in TechnipFMC by 184.0% during the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock valued at $189,460,000 after buying an additional 3,111,399 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other 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.