TD Cowen Increases TechnipFMC (NYSE:FTI) Price Target to $32.00

TechnipFMC (NYSE:FTI - Get Free Report) had its price target upped by analysts at TD Cowen from $30.00 to $32.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. TD Cowen's price objective points to a potential upside of 20.35% from the company's current price.

FTI has been the subject of a number of other research reports. HSBC downgraded TechnipFMC from a "buy" rating to a "hold" rating and set a $23.60 price target for the company. in a research note on Friday, February 23rd. Barclays lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, April 20th. Susquehanna lifted their price target on TechnipFMC from $27.00 to $34.00 and gave the company a "positive" rating in a research note on Friday. Finally, Benchmark restated a "buy" rating and issued a $30.00 target price on shares of TechnipFMC in a research note on Friday. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $26.07.

TechnipFMC Price Performance

Shares of FTI remained flat at $26.59 during trading hours on Friday. The stock had a trading volume of 3,542,472 shares, compared to its average volume of 4,720,067. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The business's fifty day moving average is $24.21 and its 200 day moving average is $21.54. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 221.58 and a beta of 1.65. TechnipFMC has a 12 month low of $12.64 and a 12 month high of $27.26.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. TechnipFMC's quarterly revenue was up 18.9% on a year-over-year basis. Equities analysts predict that TechnipFMC will post 1.15 EPS for the current fiscal year.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction 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 owns 103,982 shares in the company, valued at $2,204,418.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On TechnipFMC

Several institutional investors have recently made changes to their positions in the stock. Yousif Capital Management LLC purchased a new stake in shares of TechnipFMC during the first quarter worth $204,000. Raymond James & Associates increased its holdings in shares of TechnipFMC by 15.6% in the first quarter. Raymond James & Associates now owns 303,060 shares of the oil and gas company's stock worth $7,610,000 after purchasing an additional 40,869 shares during the period. Oak Harvest Investment Services bought a new position in TechnipFMC in the first quarter valued at $1,186,000. Norden Group LLC increased its stake in TechnipFMC by 2,899.1% in the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company's stock valued at $9,514,000 after acquiring an additional 366,266 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in TechnipFMC by 43.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,405 shares of the oil and gas company's stock valued at $211,000 after acquiring an additional 2,543 shares during the last quarter. Hedge funds and other 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.