Empowered Funds LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 182,592 shares of the oil and gas company's stock, valued at approximately $12,106,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in TechnipFMC during the 1st quarter worth $26,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. lifted its position in shares of TechnipFMC by 45.3% during 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 position in shares of TechnipFMC during the first quarter worth about $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in TechnipFMC in the second quarter worth about $37,000. Institutional investors own 96.58% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings upgraded TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. UBS Group set a $80.00 price target on TechnipFMC in a research report on Wednesday, June 3rd. Susquehanna reduced their price objective on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research note on Wednesday, July 8th. Finally, Citigroup lifted their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.64.
Check Out Our Latest Analysis on TechnipFMC
Insiders Place Their Bets
In related news, Director Eric D. Mullins bought 6,365 shares of the business's stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares of the company's stock, valued at $633,898.50. This represents a 373.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.
TechnipFMC Stock Performance
Shares of NYSE FTI opened at $75.81 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The firm's 50-day moving average price is $72.07 and its two-hundred day moving average price is $69.86. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55. The stock has a market capitalization of $29.73 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.56 and a beta of 0.72.
TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business's revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, sell-side analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current year.
TechnipFMC Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is currently 6.94%.
TechnipFMC Company Profile
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Free Report)
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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