Barclays lowered shares of TechnipFMC (NYSE:FTI) from an overweight rating to an equal weight rating in a research note released on Monday morning, Price Targets.com reports. The brokerage currently has $7.00 target price on the oil and gas company’s stock, down from their previous target price of $10.00.
Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. upped their price target on shares of TechnipFMC from $16.00 to $20.00 and gave the company an overweight rating in a research report on Friday, January 8th. Societe Generale raised shares of TechnipFMC from a hold rating to a buy rating and set a $8.89 price target for the company in a research report on Monday, October 26th. Morgan Stanley increased their target price on shares of TechnipFMC from $9.80 to $13.90 and gave the stock an overweight rating in a report on Friday, January 29th. UBS Group lowered shares of TechnipFMC from a buy rating to a neutral rating in a report on Thursday, February 18th. Finally, Kepler Capital Markets lowered shares of TechnipFMC from a buy rating to a hold rating and set a $8.21 target price for the company. in a report on Thursday, February 18th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $10.42.
NYSE FTI opened at $7.22 on Monday. TechnipFMC has a 52 week low of $4.49 and a 52 week high of $16.34. The firm has a market capitalization of $3.24 billion, a P/E ratio of -0.57, a PEG ratio of 0.79 and a beta of 2.38. The company has a quick ratio of 0.97, a current ratio of 1.10 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $10.66 and a 200-day moving average price of $8.49.
Several hedge funds and other institutional investors have recently bought and sold shares of FTI. Louisiana State Employees Retirement System boosted its position in shares of TechnipFMC by 18.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 21,400 shares of the oil and gas company’s stock valued at $135,000 after acquiring an additional 3,300 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC during the 3rd quarter valued at approximately $25,000. Alberta Investment Management Corp bought a new position in shares of TechnipFMC during the 3rd quarter valued at approximately $808,000. Xponance Inc. boosted its position in shares of TechnipFMC by 1,609.8% during the 3rd quarter. Xponance Inc. now owns 298,837 shares of the oil and gas company’s stock valued at $1,886,000 after acquiring an additional 281,359 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its position in shares of TechnipFMC by 14.8% during the 3rd quarter. New Mexico Educational Retirement Board now owns 32,523 shares of the oil and gas company’s stock valued at $785,000 after acquiring an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Technip Energies, and Surface Technologies. The Subsea segment designs and manufactures products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.
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