TechnipFMC (NYSE:FTI) PT Raised to $37.00 at Barclays

TechnipFMC (NYSE:FTI) had its price target raised by stock analysts at Barclays from $34.00 to $37.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target suggests a potential upside of 41.76% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Cowen increased their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets increased their target price on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Susquehanna boosted their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Finally, Bank of America boosted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.41.

TechnipFMC Price Performance

FTI stock opened at $26.10 on Monday. The stock’s 50 day moving average is $26.12 and its two-hundred day moving average is $26.18. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $29.85. The company has a market capitalization of $11.10 billion, a PE ratio of 17.17 and a beta of 1.50. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. Analysts predict that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

TechnipFMC announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new position in TechnipFMC during the 3rd quarter valued at $30,000. Whittier Trust Co. acquired a new position in shares of TechnipFMC during the 1st quarter valued at $29,000. GAMMA Investing LLC raised its stake in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after buying an additional 492 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of TechnipFMC in the second quarter valued at $33,000. 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.