Citizens Financial Group Inc. RI Takes Position in TechnipFMC plc $FTI

Key Points

• Citizens Financial Group acquired 15,449 shares of TechnipFMC worth approximately $1.02 million, contributing to the 96.58% of shares held by institutional investors.
• TechnipFMC reported quarterly EPS of $0.91, beating estimates by $0.11, while revenue rose 9% year over year to $2.76 billion.
• FTI shares opened at $78.39, near their 52-week high of $80.42; analysts maintain a “Moderate Buy” consensus, with an average price target of $69.64.

Citizens Financial Group Inc. RI purchased a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,449 shares of the oil and gas company's stock, valued at approximately $1,024,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the 1st quarter worth approximately $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC in the first quarter worth $37,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC in the fourth quarter valued at $41,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

NYSE:FTI opened at $78.39 on Wednesday. The company has a fifty day moving average of $70.72 and a 200-day moving average of $68.84. The firm has a market capitalization of $30.74 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.62 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $80.42.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. TechnipFMC's revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC plc will post 3.08 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC's payout ratio is presently 6.94%.

Insider Buying and Selling

In other news, Director Eric D. Mullins purchased 6,365 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FTI has been the topic of several analyst reports. Citigroup upped their target price on TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Barclays boosted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Zacks Research lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Evercore reissued an "outperform" rating and set a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Finally, Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.64.

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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