TechnipFMC (NYSE:FTI) PT Raised to $31.00

TechnipFMC (NYSE:FTI) had its price objective hoisted by Bank of America from $30.00 to $31.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s price target indicates a potential upside of 14.81% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday. Susquehanna upped their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Citigroup lifted their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.74.

TechnipFMC Price Performance

Shares of NYSE FTI traded down $0.65 on Monday, hitting $27.00. The company’s stock had a trading volume of 1,022,479 shares, compared to its average volume of 4,081,978. The stock has a 50 day moving average of $26.14 and a 200-day moving average of $26.19. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 57.45 and a beta of 1.50. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $29.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. TechnipFMC’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, research analysts predict that TechnipFMC will post 1.37 EPS for the current year.

Institutional Trading of TechnipFMC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares during the period. Vanguard Group Inc. raised its position in TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after purchasing an additional 134,880 shares during the period. Massachusetts Financial Services Co. MA raised its position in TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after purchasing an additional 204,435 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of TechnipFMC by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock worth $70,864,000 after purchasing an additional 85,451 shares in the last quarter. Finally, Anomaly Capital Management LP grew its stake in shares of TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after buying an additional 1,144,087 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

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.