Susquehanna Increases TechnipFMC (NYSE:FTI) Price Target to $82.00

TechnipFMC (NYSE:FTI) had its price target hoisted by equities researchers at Susquehanna from $71.00 to $82.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s price objective would suggest a potential upside of 16.36% from the company’s current price.

Several other research firms have also commented on FTI. Citigroup boosted their price target on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. The Goldman Sachs Group boosted their price objective on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Barclays reaffirmed an “overweight” rating and set a $69.00 target price on shares of TechnipFMC in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.20.

TechnipFMC Price Performance

FTI opened at $70.47 on Wednesday. The company has a market capitalization of $28.30 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.30 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. TechnipFMC has a 12-month low of $22.11 and a 12-month high of $71.49. The business’s fifty day simple moving average is $61.49 and its 200-day simple moving average is $49.18.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

Insider Transactions at TechnipFMC

In related news, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.10, for a total value of $10,698,339.60. Following the completion of the sale, the executive vice president directly owned 119,667 shares in the company, valued at $7,431,320.70. This trade represents a 59.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alf Melin sold 83,721 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $61.83, for a total transaction of $5,176,469.43. Following the sale, the chief financial officer directly owned 282,537 shares in the company, valued at approximately $17,469,262.71. This represents a 22.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TechnipFMC

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 657 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of TechnipFMC in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC during the third quarter worth about $32,000. Geneos Wealth Management Inc. boosted its position in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in TechnipFMC in the 4th quarter worth approximately $41,000. 96.58% of the stock is owned by institutional investors and hedge funds.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.