TD Cowen Boosts TechnipFMC (NYSE:FTI) Price Target to $32.00

TechnipFMC (NYSE:FTI) had its target price hoisted by TD Cowen from $30.00 to $32.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s target price indicates a potential upside of 20.35% from the stock’s previous close.

Several other analysts also recently commented on FTI. Susquehanna raised their target price on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research note on Friday. Bank of America raised their target price on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Barclays lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $26.07.

TechnipFMC Stock Performance

FTI stock opened at $26.59 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $24.21 and a 200-day moving average price of $21.56. The firm has a market cap of $11.62 billion, a PE ratio of 56.57 and a beta of 1.65. TechnipFMC has a 1-year low of $12.64 and a 1-year high of $27.26.

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

Insiders Place Their Bets

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now owns 103,982 shares of the company’s stock, valued at approximately $2,204,418.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds have recently modified their holdings of FTI. Vanguard Group Inc. raised its holdings in shares of TechnipFMC by 320.3% in the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after purchasing an additional 30,323,011 shares during the period. Invesco Ltd. raised its holdings in shares of TechnipFMC by 75.7% in the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after purchasing an additional 5,587,050 shares during the period. American Century Companies Inc. raised its holdings in shares of TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock worth $108,048,000 after purchasing an additional 3,283,972 shares during the period. Norges Bank bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $61,570,000. Finally, Balyasny Asset Management L.P. raised its holdings in shares of TechnipFMC by 868.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after purchasing an additional 2,808,618 shares during the period. Institutional investors own 96.58% of the company’s stock.

About TechnipFMC

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.