Clough Capital Partners L P Invests $2.33 Million in TechnipFMC plc $FTI

Clough Capital Partners L P purchased a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,180 shares of the oil and gas company's stock, valued at approximately $2,325,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Aventail Capital Group LP purchased a new position in shares of TechnipFMC in the fourth quarter worth about $3,948,000. Armistice Capital LLC purchased a new position in TechnipFMC during the fourth quarter worth about $298,000. PDT Partners LLC purchased a new position in TechnipFMC during the fourth quarter worth about $4,416,000. AQR Capital Management LLC raised its stake in TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock worth $751,567,000 after purchasing an additional 3,549,839 shares during the period. Finally, EFG International AG purchased a new position in TechnipFMC during the fourth quarter worth about $502,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the sale, the director directly owned 59,887 shares of the company's stock, valued at $4,151,366.84. This represents a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a "market perform" rating in a research note on Monday, February 23rd. Susquehanna lifted their target price on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a "positive" rating in a research note on Friday, May 1st. Evercore reaffirmed an "outperform" rating and set a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Barclays lifted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.71.

TechnipFMC Price Performance

TechnipFMC stock opened at $67.24 on Thursday. The company's 50 day simple moving average is $71.44 and its 200-day simple moving average is $61.74. The company has a market capitalization of $26.81 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $0.33 EPS. The business's revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC's dividend payout ratio is presently 7.63%.

About TechnipFMC

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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