TechnipFMC (NYSE:FTI) Given New $76.00 Price Target at Citigroup

TechnipFMC (NYSE:FTI) had its target price upped by stock analysts at Citigroup from $48.00 to $76.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price objective suggests a potential upside of 13.03% from the stock’s current price.

Several other research firms have also recently weighed in on FTI. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. UBS Group set a $70.00 price target on shares of TechnipFMC in a report on Friday, February 20th. Piper Sandler raised their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and boosted their target price for the company from $49.00 to $62.00 in a research note on Friday, February 20th. Finally, BMO Capital Markets raised their price target on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.93.

TechnipFMC Stock Up 1.7%

FTI traded up $1.11 during mid-day trading on Thursday, reaching $67.24. 2,365,548 shares of the stock were exchanged, compared to its average volume of 3,770,986. TechnipFMC has a 1 year low of $22.11 and a 1 year high of $67.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The stock has a market capitalization of $26.90 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.25 and a beta of 0.69. The company has a 50 day moving average price of $53.61 and a two-hundred day moving average price of $44.93.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the firm earned $0.54 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC will post 1.63 EPS for the current year.

Insider Buying and Selling at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 6,350 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total transaction of $415,290.00. Following the sale, the director directly owned 97,860 shares in the company, valued at approximately $6,400,044. The trade was a 6.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FTI. Blue Trust Inc. lifted its holdings in shares of TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after buying an additional 657 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in TechnipFMC during the 4th quarter worth approximately $32,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in TechnipFMC by 45.3% in 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 purchasing 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 valued at $41,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

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.