Denali Advisors LLC Has $3.09 Million Holdings in TechnipFMC plc $FTI

Key Points

• Denali Advisors increased its TechnipFMC stake by 39.9% in the second quarter, buying 13,292 additional shares. Its holdings totaled 46,564 shares valued at approximately $3.09 million.
• TechnipFMC reported quarterly EPS of $0.91, beating estimates of $0.80, while revenue rose 9% year over year to $2.76 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $69.64.
• Shares opened at $77.07, near the company’s 52-week high of $80.55. TechnipFMC also declared a quarterly dividend of $0.05 per share, representing a 0.3% annualized yield.

Denali Advisors LLC grew its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 39.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,564 shares of the oil and gas company's stock after buying an additional 13,292 shares during the period. Denali Advisors LLC's holdings in TechnipFMC were worth $3,087,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FTI. V Square Quantitative Management LLC bought a new stake in shares of TechnipFMC in the 1st quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. grew its holdings in 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 period. Ascentis Independent Advisors acquired a new stake in TechnipFMC in the first quarter worth $37,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in TechnipFMC in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FTI. Citigroup upped their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Barclays raised their target price on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Susquehanna cut their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Finally, Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, TechnipFMC presently has an average rating of "Moderate Buy" and an average target price of $69.64.

TechnipFMC Stock Performance

FTI opened at $77.07 on Thursday. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $80.55. The company has a market cap of $30.23 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.61 and a beta of 0.72. The company's fifty day moving average price is $70.86 and its two-hundred day moving average price is $68.99. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same period last year, the company earned $0.68 earnings per share. The business's revenue was up 9.0% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 3.08 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling

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

TechnipFMC Company 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.

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC plc (NYSE:FTI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source