TechnipFMC (EPA:FTI) Rating Cut
In analysts report made public on Monday, 29 January, Societe Generale stated it was downgrading Technipfmc (EPA:FTI) stock rating from a “Buy” to a “Hold”.
The stock rating downgrade was most probably noticed by stock speculators, as EPA:FTI is right now trading -0.38% lower at EUR 22.42 as of 2:04 PM New York time. TechnipFMC’s stock is 0% over the last 200 days. It has underperformed the S&P 500, which has surged 6.00% over the same time.
Out of 28 brokers covering TechnipFMC, 0 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is EUR 45 and the lowest is EUR 21 according to Thomson/First Call. The 12-month mean target is EUR 32.71, which means upside potential of 45.90% over the current price.
Halcyon Management Partners Lp had the largest stake with ownership of 1.73 million shares as of Q2 2015 for 14.2% of the fund’s portfolio. Tig Advisors Llc is another quite bullish investment manager who is possessing 2.90 million shares of TechnipFMC or 7.54% of their fund’s portfolio. Also, Oceanic Investment Management Ltd have 4.97% of their fund’s portfolio invested in the company for 349,000 shares. The Bahamas-based fund Key Group Holdings (Cayman) Ltd. disclosed it had acquired so far a stake worth about 4.06% of the investment manager’s stock portfolio in TechnipFMC. The New York-based fund Manikay Partners Llc is also positive about the stock, possessing 1.61 million shares or 3.96% of their fund’s portfolio.
TechnipFMC (EPA:FTI) Profile
TechnipFMC plc is involved in oil and gas projects, and provides related technologies, systems and services. The Company’s segments include subsea, onshore/offshore and surface projects. It offers a range of products and services and integrated solutions.
TechnipFMC (EPA:FTI) traded down -0.38% on 29 January, hitting EUR 22.42. A total of 1.39 million shares of the company’s stock traded hands. This is down from average of 1.82 million shares. TechnipFMC has a 52 week low of EUR 20.80 and a 52 week high of EUR 33.99. The company has a market cap of 11.85 billion EUR and a P/E ratio of 0.
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