TechnipFMC (NYSE:FTI) Price Target Raised to $32.00 at TD Cowen

TechnipFMC (NYSE:FTI) had its target price increased by stock analysts at TD Cowen from $30.00 to $32.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s target price points to a potential upside of 20.08% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Susquehanna increased their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research report on Friday. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price for the company. in a research report on Friday, February 23rd. Benchmark restated a “buy” rating and set a $30.00 price target on shares of TechnipFMC in a report on Friday. Barclays raised their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.07.

TechnipFMC Stock Up 0.2 %

FTI stock traded up $0.06 during midday trading on Friday, reaching $26.65. The company had a trading volume of 2,177,249 shares, compared to its average volume of 4,702,304. TechnipFMC has a 1 year low of $12.64 and a 1 year high of $27.26. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $11.65 billion, a P/E ratio of 222.10 and a beta of 1.65. The company has a 50 day moving average of $24.07 and a two-hundred day moving average of $21.50.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The company’s revenue was up 18.9% on a year-over-year basis. On average, equities research analysts expect that TechnipFMC will post 1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the sale, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.06% of the company’s stock.

Institutional Trading of TechnipFMC

Several institutional investors have recently made changes to their positions in FTI. Raymond James & Associates raised its stake in shares of TechnipFMC by 15.6% in the first quarter. Raymond James & Associates now owns 303,060 shares of the oil and gas company’s stock worth $7,610,000 after acquiring an additional 40,869 shares during the last quarter. Oak Harvest Investment Services bought a new stake in shares of TechnipFMC during the first quarter worth approximately $1,186,000. Norden Group LLC raised its stake in shares of TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock worth $9,514,000 after buying an additional 366,266 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of TechnipFMC by 43.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company’s stock worth $211,000 after buying an additional 2,543 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of TechnipFMC by 56.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock worth $74,184,000 after buying an additional 1,068,788 shares during the last quarter. 96.58% of the stock is currently 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.