Piper Sandler Boosts TechnipFMC (NYSE:FTI) Price Target to $34.00

TechnipFMC (NYSE:FTI) had its target price upped by equities research analysts at Piper Sandler from $30.00 to $34.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price would indicate a potential upside of 30.97% from the company’s previous close.

A number of other equities analysts have also recently commented on FTI. TD Cowen boosted their price target on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Susquehanna raised their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Bank of America upped their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. Barclays raised their target price on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average price target of $27.21.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $25.96 on Monday. The business has a fifty day moving average price of $24.74 and a two-hundred day moving average price of $21.75. The stock has a market capitalization of $11.19 billion, a PE ratio of 55.23 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. TechnipFMC has a fifty-two week low of $12.77 and a fifty-two week high of $27.26.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts predict that TechnipFMC will post 1.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FTI. Vanguard Group Inc. lifted its holdings in shares of TechnipFMC by 320.3% in the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after purchasing an additional 30,323,011 shares in the last quarter. Invesco Ltd. raised its stake in shares of TechnipFMC by 75.7% in the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after purchasing an additional 5,587,050 shares during the last quarter. American Century Companies Inc. grew its holdings in TechnipFMC by 161.9% during the third quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock worth $108,048,000 after buying an additional 3,283,972 shares in the last quarter. Norges Bank purchased a new position in TechnipFMC during the fourth quarter worth about $61,570,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of TechnipFMC by 868.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

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.