TechnipFMC (NYSE:FTI) Price Target Increased to $37.00 by Analysts at Barclays

TechnipFMC (NYSE:FTI) had its target price upped by Barclays from $34.00 to $37.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective indicates a potential upside of 42.80% from the company’s current price.

Several other research analysts have also recently weighed in on FTI. TD Cowen boosted their price objective on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America boosted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Susquehanna lifted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research report on Friday. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Finally, Citigroup boosted their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.65.

TechnipFMC Price Performance

FTI traded down $0.57 during trading on Monday, hitting $25.91. The company’s stock had a trading volume of 376,087 shares, compared to its average volume of 4,063,510. The firm’s 50 day moving average price is $26.13 and its two-hundred day moving average price is $26.18. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 23.81 and a beta of 1.50. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company posted $0.21 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts forecast that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

TechnipFMC announced that its board has approved a share buyback program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently modified their holdings of the business. Oak Thistle LLC raised its holdings in TechnipFMC by 3.2% during the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after buying an additional 421 shares during the period. Pallas Capital Advisors LLC raised its holdings in shares of TechnipFMC by 5.1% during the second quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after acquiring an additional 433 shares during the period. GAMMA Investing LLC lifted its position in TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares in the last quarter. Ballentine Partners LLC boosted its stake in TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 515 shares during the period. Finally, Creative Planning increased its holdings in TechnipFMC by 3.2% during the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Company Profile

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.