TechnipFMC (NYSE:FTI) Receives Buy Rating from Benchmark

TechnipFMC (NYSE:FTI)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a note issued to investors on Friday, Benzinga reports. They presently have a $30.00 price objective on the oil and gas company’s stock. Benchmark’s target price suggests a potential upside of 12.19% from the stock’s current price.

FTI has been the subject of several other reports. Bank of America boosted their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Barclays upped their price target on TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Susquehanna boosted their target price on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research note on Friday. Finally, TD Cowen upped their price target on shares of TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.81.

TechnipFMC Price Performance

TechnipFMC stock traded up $0.15 during mid-day trading on Friday, hitting $26.74. 1,854,376 shares of the company were exchanged, compared to its average volume of 4,697,203. TechnipFMC has a 12-month low of $12.64 and a 12-month high of $27.26. The business’s 50 day simple moving average is $24.07 and its two-hundred day simple moving average is $21.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. The company has a market capitalization of $11.69 billion, a P/E ratio of 222.77 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts forecast that TechnipFMC will post 1.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of TechnipFMC by 320.3% during the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after buying an additional 30,323,011 shares during the last quarter. Invesco Ltd. lifted its position in shares of TechnipFMC by 75.7% during the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock valued at $263,809,000 after purchasing an additional 5,587,050 shares in the last quarter. American Century Companies Inc. lifted its position in shares of TechnipFMC by 161.9% during the third quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after purchasing an additional 3,283,972 shares in the last quarter. Norges Bank bought a new position in shares of TechnipFMC during the fourth quarter valued at about $61,570,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after purchasing an additional 2,808,618 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

About TechnipFMC

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.