Castleark Management LLC Sells 83,500 Shares of TechnipFMC plc (NYSE:FTI)

Castleark Management LLC trimmed its position in TechnipFMC plc (NYSE:FTI - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in TechnipFMC by 31.5% in the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after acquiring an additional 3,962,315 shares in the last quarter. Norges Bank bought a new stake in TechnipFMC in the fourth quarter worth $96,808,000. Anomaly Capital Management LP boosted its holdings in TechnipFMC by 46.5% in the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after acquiring an additional 2,306,342 shares in the last quarter. AQR Capital Management LLC boosted its holdings in TechnipFMC by 70.6% in the fourth quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock worth $119,602,000 after acquiring an additional 1,710,183 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in TechnipFMC by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. The trade was a 57.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the sale, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by company insiders.

TechnipFMC Price Performance

TechnipFMC stock traded up $0.11 during midday trading on Friday, reaching $29.67. 2,524,711 shares of the stock traded hands, compared to its average volume of 4,004,985. The stock's fifty day moving average is $28.40 and its 200-day moving average is $29.39. TechnipFMC plc has a 12 month low of $22.12 and a 12 month high of $33.45. The stock has a market cap of $12.44 billion, a P/E ratio of 19.52 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. TechnipFMC's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. As a group, equities research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. Susquehanna lowered their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a report on Thursday. Barclays upped their price target on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Piper Sandler upped their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average price target of $36.46.

About TechnipFMC

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.