Piper Sandler Forecasts Strong Price Appreciation for TechnipFMC (NYSE:FTI) Stock

TechnipFMC (NYSE:FTI - Get Free Report) had its target price upped by equities research analysts at Piper Sandler from $39.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas company's stock. Piper Sandler's price objective indicates a potential upside of 41.89% from the stock's previous close.

A number of other brokerages also recently commented on FTI. Jefferies Financial Group upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and raised their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They issued an "outperform" rating and a $37.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective for the company. Citigroup raised their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $36.31.

TechnipFMC Stock Performance

NYSE:FTI traded down $1.25 during mid-day trading on Friday, reaching $28.19. The stock had a trading volume of 5,220,165 shares, compared to its average volume of 3,713,413. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 18.55 and a beta of 1.52. TechnipFMC has a twelve month low of $21.36 and a twelve month high of $33.45. The business has a 50 day simple moving average of $30.60 and a 200 day simple moving average of $28.62.

Institutional Trading of TechnipFMC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in TechnipFMC by 0.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock worth $1,220,288,000 after acquiring an additional 365,527 shares during the period. Vanguard Group Inc. grew its stake in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares during the period. Ameriprise Financial Inc. grew its stake in TechnipFMC by 31.5% in the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after acquiring an additional 3,962,315 shares during the period. Massachusetts Financial Services Co. MA grew its stake in TechnipFMC by 15.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock worth $282,150,000 after acquiring an additional 1,319,015 shares during the period. Finally, Hardman Johnston Global Advisors LLC grew its stake in TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock worth $236,482,000 after acquiring an additional 1,071,103 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.