TechnipFMC (NYSE:FTI) Stock Gets Price Target Increase from Barclays

Key Points

• Barclays raised TechnipFMC’s price target from $86 to $90 while maintaining an “overweight” rating, implying 34.69% upside from the previous close. Analysts collectively rate the stock “Buy,” with a consensus target of $75.17.
• TechnipFMC shares fell 2.8% to $66.82 in Monday trading. The company recently reported quarterly EPS of $1.05, beating estimates of $0.88, while revenue of $2.90 billion rose 9.4% year over year.
• Institutional investors and hedge funds own 96.58% of TechnipFMC’s shares. Insider activity was mixed, with a director purchasing nearly $500,000 of stock and another insider selling $431,100 under a pre-arranged trading plan.

TechnipFMC (NYSE:FTI - Get Free Report) had its target price hoisted by investment analysts at Barclays from $86.00 to $90.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the oil and gas company's stock. Barclays's price target indicates a potential upside of 34.69% from the company's previous close.

Several other research firms have also recently issued reports on FTI. UBS Group began coverage on TechnipFMC in a report on Monday, October 12th. They issued a "buy" rating and a $89.00 price target on the stock. Zacks Research raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Susquehanna lowered their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings downgraded shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday. Finally, Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, TechnipFMC presently has a consensus rating of "Buy" and a consensus target price of $75.17.

TechnipFMC Trading Down 2.8%

Shares of NYSE FTI traded down $1.95 during midday trading on Monday, hitting $66.82. The stock had a trading volume of 4,619,083 shares, compared to its average volume of 3,864,243. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 0.10. TechnipFMC has a 1-year low of $41.06 and a 1-year high of $80.70. The company has a market capitalization of $25.98 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.09 and a beta of 0.89. The company has a fifty day moving average price of $72.32 and a 200 day moving average price of $68.99.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.88 by $0.17. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.79 billion. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. On average, analysts predict that TechnipFMC will post 3.23 earnings per share for the current year.

Insider Transactions at TechnipFMC

In related news, Director Eric D. Mullins acquired 6,365 shares of the company's stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thierry Conti sold 6,000 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the transaction, the insider directly owned 85,813 shares in the company, valued at approximately $6,165,664.05. This trade represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On TechnipFMC

Several institutional investors and hedge funds have recently modified their holdings of FTI. Covestor Ltd increased its position in shares of TechnipFMC by 55.6% in the third quarter. Covestor Ltd now owns 742 shares of the oil and gas company's stock worth $50,000 after purchasing an additional 265 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of TechnipFMC during the third quarter worth $1,785,000. Provenance Wealth Advisors LLC bought a new stake in TechnipFMC in the third quarter valued at approximately $61,000. Gallacher Capital Management LLC boosted its position in TechnipFMC by 10.3% during the third quarter. Gallacher Capital Management LLC now owns 4,249 shares of the oil and gas company's stock valued at $289,000 after acquiring an additional 397 shares during the last quarter. Finally, Virtue Capital Management LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $384,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.

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