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

TechnipFMC (NYSE:FTI) had its target price boosted by equities researchers at Piper Sandler from $30.00 to $34.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price indicates a potential upside of 27.20% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Barclays raised their target price on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Susquehanna lifted their price objective on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price for the company. in a research note on Friday, February 23rd. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of TechnipFMC in a research report on Friday, April 26th. Finally, StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.21.

TechnipFMC Price Performance

FTI opened at $26.73 on Monday. TechnipFMC has a 1 year low of $13.11 and a 1 year high of $27.26. The stock has a fifty day moving average price of $24.83 and a 200 day moving average price of $21.79. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 56.87 and a beta of 1.62. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts forecast that TechnipFMC will post 1.16 EPS for the current fiscal year.

Insider Activity at TechnipFMC

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 stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the sale, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TechnipFMC

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust acquired a new position in shares of TechnipFMC in the 3rd quarter worth approximately $29,000. Whittier Trust Co. bought a new position in TechnipFMC in the 1st quarter valued at $29,000. Johnson Financial Group Inc. bought a new position in TechnipFMC in the 4th quarter valued at $33,000. Quarry LP boosted its position in TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 768 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in TechnipFMC in the 4th quarter valued at $45,000. 96.58% of the stock is owned by institutional investors and hedge funds.

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.