Piper Sandler Increases TechnipFMC (NYSE:FTI) Price Target to $34.00

TechnipFMC (NYSE:FTI) had its target price upped by research analysts at Piper Sandler from $30.00 to $34.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price would suggest a potential upside of 27.20% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Susquehanna increased their price target on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. TD Cowen upped their target price on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Bank of America upped their target price on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Benchmark restated a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research note on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.21.

TechnipFMC Trading Up 1.4 %

Shares of NYSE:FTI opened at $26.73 on Monday. The company has a market capitalization of $11.52 billion, a P/E ratio of 56.87 and a beta of 1.62. TechnipFMC has a 1 year low of $13.11 and a 1 year high of $27.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The business’s 50 day simple moving average is $24.83 and its 200 day simple moving average is $21.79.

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, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts anticipate that TechnipFMC will post 1.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTI. Parkside Financial Bank & Trust bought a new position in TechnipFMC during the 3rd quarter worth $29,000. Whittier Trust Co. bought a new position in TechnipFMC during the 1st quarter worth $29,000. Johnson Financial Group Inc. bought a new position in TechnipFMC during the 4th quarter worth $33,000. Quarry LP raised its position in TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in TechnipFMC during the 4th quarter worth about $45,000. 96.58% of the stock is owned by institutional investors.

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.