Piper Sandler Increases TechnipFMC (NYSE:FTI) Price Target to $40.00

TechnipFMC (NYSE:FTI) had its price target boosted by research analysts at Piper Sandler from $39.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price target suggests a potential upside of 39.30% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Evercore ISI raised their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays boosted their target price on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $36.23.

TechnipFMC Price Performance

TechnipFMC stock opened at $28.72 on Friday. The company has a market cap of $12.22 billion, a price-to-earnings ratio of 18.89 and a beta of 1.52. The business’s 50 day simple moving average is $30.60 and its 200 day simple moving average is $28.56. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC has a 12 month low of $21.36 and a 12 month high of $33.45.

Institutional Investors Weigh In On TechnipFMC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of TechnipFMC during the fourth quarter valued at approximately $45,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC during the fourth quarter valued at approximately $46,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,338 shares during the last quarter. Hedge funds and other 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.