TechnipFMC (NYSE:FTI) Given New $33.00 Price Target at Morgan Stanley

TechnipFMC (NYSE:FTI) had its price objective reduced by Morgan Stanley from $34.00 to $33.00 in a research note released on Friday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other research firms have also weighed in on FTI. ValuEngine upgraded shares of TechnipFMC from a sell rating to a hold rating in a research note on Tuesday, July 2nd. TheStreet lowered shares of TechnipFMC from a b- rating to a c rating in a research note on Monday, August 19th. Berenberg Bank reiterated a buy rating and set a $26.00 target price on shares of TechnipFMC in a research note on Tuesday, August 27th. Citigroup boosted their target price on shares of TechnipFMC from $27.40 to $29.50 and gave the company a neutral rating in a research note on Tuesday, July 30th. Finally, Cowen reiterated a buy rating and set a $28.00 target price on shares of TechnipFMC in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. TechnipFMC has an average rating of Buy and a consensus target price of $28.75.

Shares of NYSE:FTI traded up $0.55 during midday trading on Friday, reaching $23.47. The company had a trading volume of 3,198,547 shares, compared to its average volume of 4,361,129. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.04. The stock’s fifty day moving average price is $24.26 and its 200-day moving average price is $24.20. The stock has a market capitalization of $10.14 billion, a P/E ratio of 28.62, a PEG ratio of 0.82 and a beta of 1.46. TechnipFMC has a one year low of $18.20 and a one year high of $30.58.

TechnipFMC (NYSE:FTI) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. TechnipFMC had a negative net margin of 15.64% and a positive return on equity of 2.76%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that TechnipFMC will post 1.44 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Private Capital Group LLC grew its position in shares of TechnipFMC by 375.0% during the second quarter. Private Capital Group LLC now owns 1,121 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 885 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of TechnipFMC by 217.7% during the second quarter. Meeder Asset Management Inc. now owns 1,344 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 921 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of TechnipFMC during the second quarter worth about $39,000. Rockefeller Capital Management L.P. grew its position in shares of TechnipFMC by 116.3% during the second quarter. Rockefeller Capital Management L.P. now owns 1,728 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 929 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of TechnipFMC during the second quarter worth about $66,000. Institutional investors and hedge funds own 76.08% of the company’s stock.

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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