TechnipFMC’s (FTI) “Buy” Rating Reaffirmed at Benchmark

TechnipFMC (NYSE:FTI)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a report released on Monday, Marketbeat.com reports. They currently have a $30.00 price objective on the oil and gas company’s stock, up from their prior price objective of $25.00. Benchmark’s target price suggests a potential upside of 13.81% from the company’s previous close.

Several other analysts have also commented on FTI. TD Cowen raised their price objective on shares of TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Monday, March 25th. HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. in a research report on Friday, February 23rd. ATB Capital set a $30.00 price target on TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Finally, Susquehanna boosted their price target on TechnipFMC from $25.00 to $27.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

TechnipFMC Stock Up 3.4 %

FTI opened at $26.36 on Monday. The stock has a market cap of $11.52 billion, a PE ratio of 219.68 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. TechnipFMC has a 52 week low of $12.64 and a 52 week high of $26.49. The business’s fifty day simple moving average is $21.84 and its 200 day simple moving average is $20.84.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. As a group, research analysts expect that TechnipFMC will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were 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 directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds and other institutional investors have recently modified their holdings of FTI. Vanguard Group Inc. increased its stake 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. BlackRock Inc. increased its stake in shares of TechnipFMC by 87.8% in the 2nd quarter. BlackRock Inc. now owns 19,869,072 shares of the oil and gas company’s stock worth $330,224,000 after purchasing an additional 9,287,344 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of TechnipFMC by 68,732.1% in the 4th quarter. Alliancebernstein L.P. now owns 7,053,918 shares of the oil and gas company’s stock worth $85,987,000 after purchasing an additional 7,043,670 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in TechnipFMC by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,933,447 shares of the oil and gas company’s stock worth $718,398,000 after buying an additional 5,888,998 shares in the last quarter. Finally, Invesco Ltd. increased its stake in TechnipFMC by 75.7% in the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after buying an additional 5,587,050 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other 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.