TechnipFMC (NYSE:FTI) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of TechnipFMC (NYSE:FTI – Get Rating) in a research note issued on Thursday. The brokerage set a “hold” rating on the oil and gas company’s stock.

FTI has been the topic of several other reports. Citigroup increased their target price on shares of TechnipFMC from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. BTIG Research increased their target price on shares of TechnipFMC from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. Barclays increased their target price on shares of TechnipFMC from $14.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 27th. Piper Sandler upped their price target on shares of TechnipFMC from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, November 18th. Finally, Benchmark initiated coverage on shares of TechnipFMC in a report on Thursday, January 19th. They set a “buy” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.45.

TechnipFMC Trading Down 7.5 %

NYSE FTI opened at $12.67 on Thursday. TechnipFMC has a 1-year low of $5.47 and a 1-year high of $16.03. The company has a current ratio of 1.20, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.60 billion, a PE ratio of -55.09 and a beta of 1.75. The firm’s fifty day simple moving average is $13.72 and its 200-day simple moving average is $11.66.

TechnipFMC (NYSE:FTI – Get Rating) last posted its earnings results on Thursday, February 23rd. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.08). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. TechnipFMC had a negative return on equity of 0.38% and a negative net margin of 1.60%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. As a group, sell-side analysts anticipate that TechnipFMC will post 0.52 earnings per share for the current fiscal year.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 22,208 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $15.10, for a total value of $335,340.80. Following the completion of the sale, the director now owns 107,092 shares in the company, valued at $1,617,089.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TechnipFMC

Several hedge funds have recently made changes to their positions in the stock. FirstPurpose Wealth LLC raised its position in TechnipFMC by 8.3% in the fourth quarter. FirstPurpose Wealth LLC now owns 14,489 shares of the oil and gas company’s stock worth $177,000 after purchasing an additional 1,106 shares in the last quarter. Zions Bancorporation N.A. raised its position in TechnipFMC by 11.2% in the third quarter. Zions Bancorporation N.A. now owns 12,699 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 1,282 shares in the last quarter. Allworth Financial LP raised its position in TechnipFMC by 35.7% in the third quarter. Allworth Financial LP now owns 4,987 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 1,313 shares in the last quarter. Signaturefd LLC raised its position in TechnipFMC by 88.5% in the fourth quarter. Signaturefd LLC now owns 2,964 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,392 shares in the last quarter. Finally, Mariner LLC raised its position in TechnipFMC by 9.3% in the fourth quarter. Mariner LLC now owns 16,538 shares of the oil and gas company’s stock worth $202,000 after purchasing an additional 1,401 shares in the last quarter. Institutional investors own 94.52% of the company’s stock.

TechnipFMC Company Profile

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TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.