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

TechnipFMC (NYSE:FTI - Get Free Report) had its price target increased by investment analysts at Susquehanna from $35.00 to $37.00 in a report issued on Friday, Benzinga reports. The firm currently has a "positive" rating on the oil and gas company's stock. Susquehanna's target price suggests a potential upside of 39.78% from the stock's previous close.

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

TechnipFMC Stock Up 2.4 %

FTI traded up $0.61 during trading on Friday, reaching $26.47. The stock had a trading volume of 4,003,892 shares, compared to its average volume of 4,081,322. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 56.32 and a beta of 1.50. The stock's 50 day moving average is $26.13 and its two-hundred day moving average is $26.18. TechnipFMC has a one year low of $18.33 and a one year high of $29.85.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results 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 net margin of 5.72% and a return on equity of 14.36%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business earned $0.21 EPS. TechnipFMC's quarterly revenue was up 14.2% compared to the same quarter last year. As a group, analysts expect that TechnipFMC will post 1.37 earnings per share for the current year.

TechnipFMC declared that its board has initiated a share repurchase program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norden Group LLC increased its holdings in 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 worth $9,514,000 after acquiring an additional 366,266 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of TechnipFMC during the 1st quarter valued at $965,000. Atria Investments Inc purchased a new position in shares of TechnipFMC during the 1st quarter valued at $1,684,000. Raymond James & Associates boosted its holdings in TechnipFMC by 12.0% in the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company's stock worth $8,875,000 after buying an additional 36,326 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in TechnipFMC in the 1st quarter worth $848,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

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.