Benchmark Initiates Coverage on TechnipFMC (NYSE:FTI)

Benchmark began coverage on shares of TechnipFMC (NYSE:FTIGet Rating) in a report released on Thursday, The Fly reports. The firm set a “buy” rating and a $15.00 price target on the oil and gas company’s stock. Benchmark’s price objective suggests a potential upside of 15.12% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Citigroup increased their target price on shares of TechnipFMC to $12.40 in a research report on Tuesday, November 15th. Barclays upgraded shares of TechnipFMC from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $14.00 in a research report on Thursday, October 6th. BNP Paribas upgraded shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $14.50 target price for the company in a research report on Wednesday, September 21st. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $13.50 target price for the company in a research report on Tuesday, October 25th. Finally, Piper Sandler increased their price target on shares of TechnipFMC from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.95.

TechnipFMC Price Performance

FTI opened at $13.03 on Thursday. The firm has a market cap of $5.82 billion, a P/E ratio of -26.06 and a beta of 1.76. The firm has a 50-day moving average of $12.10 and a 200 day moving average of $9.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.27. TechnipFMC has a fifty-two week low of $5.47 and a fifty-two week high of $13.20.

TechnipFMC (NYSE:FTIGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The oil and gas company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.75 billion. TechnipFMC had a negative net margin of 3.46% and a negative return on equity of 1.42%. On average, research analysts expect that TechnipFMC will post 0.07 EPS for the current year.

Institutional Investors Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently bought and sold shares of FTI. CWA Asset Management Group LLC purchased a new position in shares of TechnipFMC during the fourth quarter worth approximately $7,773,000. Bridgefront Capital LLC purchased a new position in shares of TechnipFMC during the third quarter worth approximately $284,000. FourThought Financial LLC raised its stake in shares of TechnipFMC by 18.0% during the third quarter. FourThought Financial LLC now owns 27,533 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 4,205 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of TechnipFMC by 0.9% during the third quarter. California State Teachers Retirement System now owns 375,691 shares of the oil and gas company’s stock worth $3,178,000 after acquiring an additional 3,230 shares in the last quarter. Finally, Alpha Paradigm Partners LLC purchased a new position in shares of TechnipFMC during the third quarter worth approximately $428,000. 94.52% of the stock is owned by hedge funds and other institutional investors.

About TechnipFMC

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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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