Susquehanna Cuts TechnipFMC (NYSE:FTI) Price Target to $35.00

TechnipFMC (NYSE:FTI) had its price objective lowered by equities researchers at Susquehanna from $41.00 to $35.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price target would suggest a potential upside of 38.39% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Barclays raised their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Evercore ISI raised their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus target price of $36.15.

TechnipFMC Price Performance

FTI traded up $0.26 on Monday, hitting $25.29. 566,957 shares of the company were exchanged, compared to its average volume of 3,908,875. The business’s fifty day moving average is $28.55 and its 200 day moving average is $29.00. The firm has a market capitalization of $10.64 billion, a P/E ratio of 16.64 and a beta of 1.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC has a fifty-two week low of $22.12 and a fifty-two week high of $33.45.

Insider Transactions at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David Light sold 10,147 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of TechnipFMC

A number of hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock worth $98,838,000 after buying an additional 679,748 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of TechnipFMC by 24.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company’s stock valued at $634,000 after buying an additional 4,314 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of TechnipFMC in the fourth quarter worth $519,000. Raymond James Financial Inc. acquired a new stake in TechnipFMC in the fourth quarter valued at $9,152,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after acquiring an additional 249,719 shares during the last quarter. 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.