The Goldman Sachs Group Forecasts Strong Price Appreciation for TechnipFMC (NYSE:FTI) Stock

TechnipFMC (NYSE:FTI) had its target price hoisted by investment analysts at The Goldman Sachs Group from $66.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 3.12% from the stock’s current price.

FTI has been the subject of a number of other reports. Royal Bank Of Canada increased their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. UBS Group set a $70.00 price objective on shares of TechnipFMC in a research note on Friday, February 20th. Barclays restated an “overweight” rating and set a $69.00 price objective on shares of TechnipFMC in a research note on Friday, February 20th. Susquehanna upped their target price on shares of TechnipFMC from $82.00 to $83.00 and gave the company a “positive” rating in a report on Tuesday, April 7th. Finally, TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.73.

TechnipFMC Trading Up 1.0%

TechnipFMC stock opened at $72.73 on Wednesday. The firm has a 50-day moving average of $66.56 and a 200-day moving average of $52.53. TechnipFMC has a one year low of $24.36 and a one year high of $75.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The company has a market cap of $29.21 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.47 and a beta of 0.71.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business posted $0.54 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan Landes sold 116,194 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the sale, the insider directly owned 71,356 shares of the company’s stock, valued at approximately $4,438,343.20. This represents a 61.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alf Melin sold 43,554 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $63.13, for a total transaction of $2,749,564.02. Following the completion of the sale, the chief financial officer directly owned 238,983 shares in the company, valued at approximately $15,086,996.79. The trade was a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,216,442 shares of company stock worth $75,762,414 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTI. State Street Corp raised its holdings in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank bought a new position in TechnipFMC in the 4th quarter valued at about $205,468,000. Invesco Ltd. raised its holdings in TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after acquiring an additional 4,437,960 shares during the period. AQR Capital Management LLC raised its holdings in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after acquiring an additional 3,549,839 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in TechnipFMC by 184.0% in the 3rd quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock valued at $189,460,000 after acquiring an additional 3,111,399 shares during the period. 96.58% of the stock is owned by institutional investors.

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.