Barclays Forecasts Strong Price Appreciation for TechnipFMC (NYSE:FTI) Stock
by Teresa Graham · The Cerbat GemTechnipFMC (NYSE:FTI – Get Free Report) had its price objective increased by investment analysts at Barclays from $70.00 to $87.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target indicates a potential upside of 22.46% from the company’s current price.
Several other equities analysts have also commented on FTI. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Citigroup lifted their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. UBS Group set a $70.00 target price on TechnipFMC in a research note on Friday, February 20th. Finally, Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.53.
Check Out Our Latest Research Report on TechnipFMC
TechnipFMC Trading Up 0.0%
Shares of NYSE:FTI traded up $0.02 during midday trading on Friday, reaching $71.05. 1,067,809 shares of the company’s stock were exchanged, compared to its average volume of 3,930,880. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 1.50 and a beta of 0.74. TechnipFMC has a fifty-two week low of $28.87 and a fifty-two week high of $77.78. The firm’s 50 day simple moving average is $69.62 and its two-hundred day simple moving average is $56.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.
TechnipFMC (NYSE:FTI – Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. TechnipFMC’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that TechnipFMC will post 2.93 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Alf Melin sold 43,554 shares of TechnipFMC stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02. Following the completion of the transaction, the chief financial officer directly owned 238,983 shares in the company, valued at approximately $15,086,996.79. This trade represents a 15.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the transaction, the director directly owned 59,887 shares of the company’s stock, valued at $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,216,442 shares of company stock valued at $75,762,414. 1.40% of the stock is owned by company insiders.
Institutional Trading of TechnipFMC
A number of large investors have recently made changes to their positions in FTI. ANB Bank lifted its stake in TechnipFMC by 3.4% in the first quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 161 shares during the last quarter. PFG Investments LLC increased its position in shares of TechnipFMC by 2.4% in the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock valued at $495,000 after purchasing an additional 165 shares during the last quarter. Independent Advisor Alliance increased its position in shares of TechnipFMC by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after purchasing an additional 184 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of TechnipFMC by 3.0% in the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 225 shares in the last quarter. Finally, Evolve Private Wealth LLC lifted its position in shares of TechnipFMC by 0.7% during the 1st quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after purchasing an additional 227 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.
TechnipFMC Company Profile
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.