81,053 Shares in TechnipFMC plc $FTI Acquired by CPC Advisors LLC

Key Points

• CPC Advisors LLC opened a new position in TechnipFMC, buying 81,053 shares in Q4 valued at about $3.61 million, and institutional investors now own 96.58% of the company.
• Company insiders have been heavy sellers recently — insiders disposed of 1,216,442 shares worth roughly $75.76 million in the last 90 days, including large sales by EVP Luana Duffe and Jonathan Landes that materially reduced their holdings.
• Analyst sentiment is mixed-to-positive: MarketBeat shows a consensus of Moderate Buy with a target of $61.73, several firms have raised price targets (Piper Sandler to $80), and the stock trades around $72.38 after a recent quarterly EPS beat.

CPC Advisors LLC acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,053 shares of the oil and gas company's stock, valued at approximately $3,612,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC grew its holdings in TechnipFMC by 186.3% during the fourth quarter. Evergreen Capital Management LLC now owns 14,581 shares of the oil and gas company's stock valued at $650,000 after purchasing an additional 9,488 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TechnipFMC by 3.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,709 shares of the oil and gas company's stock valued at $5,712,000 after purchasing an additional 3,741 shares during the last quarter. Krilogy Financial LLC grew its holdings in TechnipFMC by 15.7% during the fourth quarter. Krilogy Financial LLC now owns 43,121 shares of the oil and gas company's stock valued at $1,921,000 after purchasing an additional 5,847 shares during the last quarter. Earned Wealth Advisors LLC grew its holdings in TechnipFMC by 46.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 8,518 shares of the oil and gas company's stock valued at $380,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in TechnipFMC during the fourth quarter valued at approximately $941,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Zacks Research upgraded TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Friday, January 23rd. Piper Sandler increased their price target on TechnipFMC from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. BMO Capital Markets increased their price target on TechnipFMC from $52.00 to $67.00 and gave the company a "market perform" rating in a report on Monday, February 23rd. Finally, Barclays reiterated an "overweight" rating and set a $69.00 price target on shares of TechnipFMC in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.73.

Insider Buying and Selling

In other news, EVP Luana Duffe sold 47,951 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.43, for a total value of $2,993,580.93. Following the completion of the sale, the executive vice president directly owned 78,871 shares of the company's stock, valued at approximately $4,923,916.53. This represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Landes sold 116,194 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the completion of the sale, the insider directly owned 71,356 shares of the company's stock, valued at $4,438,343.20. This represents a 61.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,216,442 shares of company stock valued at $75,762,414 in the last ninety days. Company insiders own 1.40% of the company's stock.

TechnipFMC Stock Up 3.1%

FTI opened at $72.38 on Wednesday. TechnipFMC plc has a 1-year low of $24.53 and a 1-year high of $75.52. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $29.06 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 1.43 and a beta of 0.71. The business has a 50 day moving average of $67.24 and a 200-day moving average of $53.39.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The oil and gas company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same period in the prior year, the business earned $0.54 earnings per share. TechnipFMC's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that TechnipFMC plc will post 2.92 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, March 17th. TechnipFMC's dividend payout ratio is currently 8.66%.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company's activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

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