TechnipFMC (NYSE:FTI) Price Target Increased to $37.00 by Analysts at Susquehanna

TechnipFMC (NYSE:FTI) had its target price upped by equities research analysts at Susquehanna from $35.00 to $37.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective points to a potential upside of 39.73% from the stock’s previous close.

Several other brokerages have also recently issued reports on FTI. Bank of America increased their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup increased their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. TD Cowen upped their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Finally, BMO Capital Markets upped their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.37.

TechnipFMC Stock Up 2.4 %

Shares of NYSE:FTI opened at $26.48 on Friday. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $29.85. The stock has a market cap of $11.34 billion, a P/E ratio of 24.29 and a beta of 1.50. The business’s 50 day moving average is $26.13 and its 200 day moving average is $26.18. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. Sell-side analysts predict that TechnipFMC will post 1.38 EPS for the current year.

TechnipFMC announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently made changes to their positions in FTI. Price T Rowe Associates Inc. MD lifted its holdings in shares of TechnipFMC by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after purchasing an additional 3,259,348 shares during the last quarter. Anomaly Capital Management LP increased its position in shares of TechnipFMC by 50.3% in the 2nd 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 acquiring an additional 1,144,087 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of TechnipFMC by 56.7% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock valued at $74,184,000 after acquiring an additional 1,068,788 shares during the period. AQR Capital Management LLC increased its position in shares of TechnipFMC by 391.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,036,797 shares of the oil and gas company’s stock valued at $27,112,000 after acquiring an additional 825,842 shares during the period. Finally, Yaupon Capital Management LP increased its position in shares of TechnipFMC by 4,931.0% in the 1st quarter. Yaupon Capital Management LP now owns 805,305 shares of the oil and gas company’s stock valued at $20,221,000 after acquiring an additional 789,298 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

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.