Castleark Management LLC Has $11.16 Million Stock Position in TechnipFMC plc (NYSE:FTI)

Castleark Management LLC lessened its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,780 shares of the oil and gas company's stock after selling 83,500 shares during the period. Castleark Management LLC owned 0.09% of TechnipFMC worth $11,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FTI. Focus Partners Advisor Solutions LLC acquired a new position in TechnipFMC during the 4th quarter worth $221,000. PharVision Advisers LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at about $312,000. Voloridge Investment Management LLC acquired a new stake in TechnipFMC in the fourth quarter worth about $6,411,000. Vident Advisory LLC bought a new position in TechnipFMC in the 4th quarter valued at about $231,000. Finally, Two Sigma Advisers LP increased its stake in TechnipFMC by 9.9% during the 4th quarter. Two Sigma Advisers LP now owns 743,700 shares of the oil and gas company's stock valued at $21,523,000 after buying an additional 67,000 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Up 0.4%

NYSE FTI traded up $0.11 on Monday, hitting $29.67. 2,524,711 shares of the company were exchanged, compared to its average volume of 4,004,985. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $33.45. The firm has a market capitalization of $12.44 billion, a P/E ratio of 19.52 and a beta of 0.98. The company's 50 day moving average price is $28.40 and its 200-day moving average price is $29.40.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. TechnipFMC's dividend payout ratio (DPR) is presently 10.53%.

Insider Activity

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the sale, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at $187,472.10. This trade represents a 57.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FTI. Piper Sandler upped their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Barclays increased their price target on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $36.46.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.