The Goldman Sachs Group Issues Positive Forecast for TechnipFMC (NYSE:FTI) Stock Price

Key Points

• The Goldman Sachs Group raised its price target for TechnipFMC from $66 to $75 and kept a buy rating, implying roughly a 4.1% upside from the current stock price.
• TechnipFMC beat quarterly EPS expectations ($0.70 vs. $0.51) while posting $2.52 billion in revenue (slightly below estimates); the stock trades around $72 with a market cap near $28.9 billion.
• Significant insider selling occurred on March 9—including sales by the CEO and EVP—with roughly 1.22 million shares (~$75.8 million) sold in the last 90 days, and insiders now owning about 1.4% of the company.

TechnipFMC (NYSE:FTI - Get Free Report) had its price target increased by equities research analysts at The Goldman Sachs Group from $66.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. The Goldman Sachs Group's price target points to a potential upside of 4.10% from the stock's current price.

FTI has been the subject of several other research reports. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Zacks Research upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 23rd. Susquehanna boosted their price objective on shares of TechnipFMC from $82.00 to $83.00 and gave the stock a "positive" rating in a research report on Tuesday, April 7th. BMO Capital Markets boosted their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and a consensus target price of $61.73.

TechnipFMC Stock Up 0.1%

Shares of FTI stock traded up $0.05 during trading on Wednesday, reaching $72.05. The company's stock had a trading volume of 1,195,518 shares, compared to its average volume of 3,937,356. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 1.38 and a beta of 0.71. The stock's 50-day moving average price is $65.92 and its 200 day moving average price is $52.25. TechnipFMC has a 1-year low of $24.36 and a 1-year high of $75.52.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm's revenue was up 6.3% on a year-over-year basis. On average, research analysts anticipate that TechnipFMC will post 1.63 EPS for the current year.

Insider Activity at TechnipFMC

In other TechnipFMC news, EVP Justin Rounce sold 172,276 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the transaction, the executive vice president owned 119,667 shares in the company, valued at approximately $7,431,320.70. This represents a 59.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Pferdehirt sold 733,424 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $62.24, for a total transaction of $45,648,309.76. Following the transaction, the chief executive officer owned 2,411,852 shares of the company's stock, valued at approximately $150,113,668.48. The trade was a 23.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 in the last 90 days. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On TechnipFMC

A number of institutional investors and hedge funds have recently made changes to their positions in FTI. Blue Trust Inc. lifted its holdings in shares of TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 657 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of TechnipFMC during the 4th quarter worth about $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. lifted its holdings in shares of 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 worth $35,000 after acquiring an additional 340 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TechnipFMC during the 4th quarter worth about $41,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Company Profile

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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