TechnipFMC (NYSE:FTI) Price Target Raised to $71.00 at Susquehanna

TechnipFMC (NYSE:FTIFree Report) had its price objective boosted by Susquehanna from $56.00 to $71.00 in a research report report published on Friday morning, MarketBeat reports. Susquehanna currently has a positive rating on the oil and gas company’s stock.

A number of other analysts have also issued reports on the company. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Citigroup lifted their target price on TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada upped their target price on TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group increased their price target on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Piper Sandler lifted their price objective on TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.08.

Get Our Latest Report on FTI

TechnipFMC Trading Up 2.6%

NYSE FTI opened at $63.39 on Friday. The stock has a market cap of $25.64 billion, a PE ratio of 27.44, a PEG ratio of 1.20 and a beta of 0.69. TechnipFMC has a 12 month low of $22.11 and a 12 month high of $63.51. The company’s 50-day moving average price is $52.38 and its 200-day moving average price is $44.24. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12.

TechnipFMC (NYSE:FTIGet Free Report) last released its quarterly earnings data on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.19. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. Equities research analysts forecast that TechnipFMC will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s dividend payout ratio is 8.93%.

Hedge Funds Weigh In On TechnipFMC

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC boosted its position in shares of TechnipFMC by 38.0% in the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after purchasing an additional 50,593 shares in the last quarter. Lingohr Asset Management GmbH raised its stake in TechnipFMC by 461.7% in the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock valued at $8,375,000 after buying an additional 174,500 shares during the last quarter. Bank of New York Mellon Corp raised its stake in TechnipFMC by 80.6% in the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after buying an additional 1,415,621 shares during the last quarter. Rothschild Investment LLC boosted its holdings in TechnipFMC by 25,468.9% in the third quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock worth $454,000 after acquiring an additional 11,461 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of TechnipFMC by 8.4% during the third quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock worth $12,053,000 after acquiring an additional 23,600 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC News Roundup

Here are the key news stories impacting TechnipFMC this week:

TechnipFMC Company Profile

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TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

Further Reading

Analyst Recommendations for TechnipFMC (NYSE:FTI)

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