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

TechnipFMC (NYSE:FTI) had its price objective upped by stock analysts at Susquehanna from $35.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the oil and gas company’s stock. Susquehanna’s target price suggests a potential upside of 40.26% from the company’s previous close.

Several other research analysts also recently issued reports on the company. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Monday. Citigroup increased their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. TD Cowen increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. Finally, Bank of America upped their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $31.37.

TechnipFMC Price Performance

Shares of FTI traded up $0.52 on Friday, hitting $26.38. The company’s stock had a trading volume of 294,807 shares, compared to its average volume of 4,063,403. The company has a market capitalization of $11.37 billion, a PE ratio of 56.17 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. TechnipFMC has a fifty-two week low of $18.33 and a fifty-two week high of $29.85. The company has a 50 day moving average price of $26.14 and a 200 day moving average price of $26.18.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts anticipate that TechnipFMC will post 1.37 earnings per share for the current fiscal year.

TechnipFMC declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TechnipFMC

Hedge funds have recently modified their holdings of the stock. Pallas Capital Advisors LLC lifted its stake in TechnipFMC by 159.0% in the 3rd quarter. Pallas Capital Advisors LLC now owns 23,051 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 14,150 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in TechnipFMC by 152.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 37,440 shares of the oil and gas company’s stock valued at $982,000 after purchasing an additional 22,624 shares during the last quarter. Shayne & Jacobs LLC lifted its stake in TechnipFMC by 0.5% in the 3rd quarter. Shayne & Jacobs LLC now owns 181,520 shares of the oil and gas company’s stock valued at $4,761,000 after purchasing an additional 920 shares during the last quarter. Ballentine Partners LLC lifted 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 valued at $294,000 after purchasing an additional 515 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new stake in TechnipFMC in the 3rd quarter valued at about $205,000. 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.