JPMorgan Chase & Co. Raises TechnipFMC (NYSE:FTI) Price Target to $39.00

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TechnipFMC (NYSE:FTI) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $36.00 to $39.00 in a report released on Monday, September 17th, Stock Target Advisor reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 29.57% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Co boosted their price target on TechnipFMC from $37.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, May 24th. Credit Suisse Group began coverage on TechnipFMC in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $38.00 target price for the company. BMO Capital Markets upped their target price on TechnipFMC from $34.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Exane BNP Paribas began coverage on TechnipFMC in a research note on Thursday, June 21st. They issued an “underperform” rating for the company. Finally, BNP Paribas lowered TechnipFMC from a “neutral” rating to an “underperform” rating in a research note on Thursday, June 21st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the stock. TechnipFMC currently has a consensus rating of “Buy” and a consensus target price of $37.29.

Shares of NYSE FTI traded up $0.27 during trading on Monday, reaching $30.10. The company had a trading volume of 3,522,193 shares, compared to its average volume of 3,433,028. TechnipFMC has a twelve month low of $24.53 and a twelve month high of $35.00. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 2.37 and a beta of 0.87. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.29.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.11). TechnipFMC had a return on equity of 4.02% and a net margin of 1.21%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the firm earned $0.39 earnings per share. The business’s revenue was down 23.0% compared to the same quarter last year. As a group, analysts anticipate that TechnipFMC will post 1.37 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of TechnipFMC by 56.7% in the third quarter. Bank of Montreal Can now owns 207,297 shares of the oil and gas company’s stock worth $6,479,000 after buying an additional 75,013 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of TechnipFMC in the third quarter worth about $349,000. Clinton Group Inc. boosted its position in shares of TechnipFMC by 12.9% in the third quarter. Clinton Group Inc. now owns 82,699 shares of the oil and gas company’s stock worth $2,584,000 after buying an additional 9,462 shares during the period. Viking Fund Management LLC boosted its position in shares of TechnipFMC by 60.5% in the third quarter. Viking Fund Management LLC now owns 345,000 shares of the oil and gas company’s stock worth $10,781,000 after buying an additional 130,000 shares during the period. Finally, FMR LLC boosted its position in shares of TechnipFMC by 34.2% in the second quarter. FMR LLC now owns 2,887,348 shares of the oil and gas company’s stock worth $91,644,000 after buying an additional 735,340 shares during the period. 64.61% of the stock is owned by institutional investors.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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