Barclays Boosts TechnipFMC (NYSE:FTI) Price Target to $37.00

TechnipFMC (NYSE:FTI) had its price target boosted by equities researchers at Barclays from $34.00 to $37.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target indicates a potential upside of 41.76% from the company’s current price.

FTI has been the topic of a number of other research reports. Bank of America boosted their price target on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. BMO Capital Markets lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. TD Cowen increased their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Susquehanna lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. Finally, Citigroup increased their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.41.

TechnipFMC Price Performance

NYSE FTI opened at $26.10 on Monday. TechnipFMC has a 1 year low of $18.33 and a 1 year high of $29.85. The business’s fifty day moving average is $26.12 and its two-hundred day moving average is $26.18. The stock has a market capitalization of $11.10 billion, a P/E ratio of 17.17 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. TechnipFMC’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts forecast that TechnipFMC will post 1.38 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norden Group LLC lifted its stake in shares of TechnipFMC by 2,899.1% in the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after purchasing an additional 366,266 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of TechnipFMC during the 1st quarter worth about $965,000. Atria Investments Inc acquired a new position in shares of TechnipFMC during the 1st quarter valued at about $1,684,000. Raymond James & Associates raised its stake in shares of TechnipFMC by 12.0% in the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after acquiring an additional 36,326 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in TechnipFMC in the 1st quarter worth approximately $848,000. Institutional investors and hedge funds 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.