TechnipFMC (NYSE:FTI) Lifted to Buy at StockNews.com

TechnipFMC (NYSE:FTI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other brokerages have also recently issued reports on FTI. TD Cowen raised their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. Bank of America boosted their target price on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of TechnipFMC in a research report on Friday. Susquehanna increased their price target on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a report on Friday. Finally, Barclays boosted their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.14.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $26.61 on Friday. TechnipFMC has a 12 month low of $12.64 and a 12 month high of $27.26. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The stock has a market cap of $11.63 billion, a P/E ratio of 56.62 and a beta of 1.65. The company has a 50 day moving average of $24.35 and a 200 day moving average of $21.61.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 9.60% and a net margin of 2.61%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that TechnipFMC will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the company’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 sale, the director now directly owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust bought a new position in TechnipFMC in the 3rd quarter valued at $29,000. Johnson Financial Group Inc. acquired a new stake in TechnipFMC in the fourth quarter valued at approximately $33,000. Quarry LP grew its stake in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 768 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in TechnipFMC during the 4th quarter valued at approximately $45,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in TechnipFMC by 367.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company’s stock worth $89,000 after buying an additional 2,790 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

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.