TechnipFMC (NYSE:FTI) Stock Gets Price Target Boost from Barclays

TechnipFMC (NYSE:FTI) had its price objective hoisted by equities researchers at Barclays from $86.00 to $90.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target indicates a potential upside of 34.69% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on FTI. UBS Group began coverage on shares of TechnipFMC in a report on Monday, October 12th. They issued a “buy” rating and a $89.00 price objective on the stock. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Citigroup raised their target price on shares of TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.17.

TechnipFMC Price Performance

Shares of FTI traded down $1.95 during mid-day trading on Monday, reaching $66.82. 4,619,083 shares of the stock traded hands, compared to its average volume of 3,864,243. The company has a market cap of $25.98 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $72.32 and a 200 day moving average price of $68.99. TechnipFMC has a 1 year low of $41.06 and a 1 year high of $80.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.79 billion. TechnipFMC had a net margin of 12.04% and a return on equity of 39.82%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. As a group, equities research analysts predict that TechnipFMC will post 3.23 earnings per share for the current year.

Insider Buying and Selling at TechnipFMC

In related news, Director Eric Mullins acquired 6,365 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares in the company, valued at $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thierry Conti sold 6,000 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the transaction, the insider owned 85,813 shares of the company’s stock, valued at $6,165,664.05. This trade represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC bought a new stake in TechnipFMC during the 2nd quarter worth approximately $3,470,000. Chase Investment Counsel Corp acquired a new position in TechnipFMC during the 2nd quarter valued at about $12,397,000. Globeflex Capital L P acquired a new stake in TechnipFMC during the 2nd quarter worth $1,011,000. Proficio Capital Partners LLC acquired a new stake in shares of TechnipFMC during the second quarter worth $1,301,000. Finally, Raiffeisen Bank International AG acquired a new position in shares of TechnipFMC during the 2nd quarter worth about $2,337,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

About TechnipFMC

TechnipFMC plc (NYSE: FTI) is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.