Susquehanna Boosts TechnipFMC (NYSE:FTI) Price Target to $90.00

Key Points

• Susquehanna raised its price target on TechnipFMC to $90.00 (from $83), keeping a "positive" rating and implying about an 18.96% upside from the prior close.
• TechnipFMC reported a quarter of $0.64 EPS versus $0.57 expected and revenue up 11.6% year-over-year to $2.49 billion, a mixed beat on profit with revenue slightly below estimates.
• Susquehanna's $90 target is well above the Street average target of $62.27, while insiders have recently sold roughly 1.22 million shares (~$75.8M), leaving insider ownership at about 1.4%.

TechnipFMC (NYSE:FTI - Get Free Report) had its price target hoisted by stock analysts at Susquehanna from $83.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "positive" rating on the oil and gas company's stock. Susquehanna's target price suggests a potential upside of 18.96% from the stock's previous close.

FTI has been the topic of a number of other research reports. UBS Group set a $70.00 price target on shares of TechnipFMC in a report on Friday, February 20th. TD Cowen reissued a "buy" rating on shares of TechnipFMC in a report on Friday, February 20th. Piper Sandler raised their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Citigroup raised their price target on shares of TechnipFMC from $48.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Finally, Wall Street Zen lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average target price of $62.27.

TechnipFMC Price Performance

FTI stock opened at $75.65 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. TechnipFMC has a 52 week low of $28.00 and a 52 week high of $77.78. The firm's fifty day moving average is $69.08 and its 200 day moving average is $54.98. The firm has a market cap of $30.38 billion, a P/E ratio of 32.75, a P/E/G ratio of 1.57 and a beta of 0.71.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm earned $0.33 EPS. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts predict that TechnipFMC will post 2.92 earnings per share for the current year.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 6,622 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the completion of the sale, the chief accounting officer directly owned 5,005 shares of the company's stock, valued at approximately $312,462.15. This trade represents a 56.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Luana Duffe sold 47,951 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $62.43, for a total transaction of $2,993,580.93. Following the completion of the sale, the executive vice president directly owned 78,871 shares of the company's stock, valued at approximately $4,923,916.53. This represents a 37.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,216,442 shares of company stock worth $75,762,414. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 657 shares during the period. V Square Quantitative Management LLC purchased a new position in TechnipFMC during the 1st quarter valued at about $26,000. Harbor Investment Advisory LLC purchased a new position in TechnipFMC during the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC during the 3rd quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. lifted its position in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 340 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company's activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

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