Encompass Capital Advisors LLC Purchases Shares of 1,500,000 TechnipFMC plc $FTI

Key Points

• Encompass Capital Advisors LLC has acquired 1.5 million shares of TechnipFMC plc, valued at approximately $47.5 million, making it the fund's 21st largest holding.
• The recent earnings report indicated that TechnipFMC posted an EPS of $0.68, surpassing analyst expectations of $0.57, and revenue increased by 9% year-over-year to $2.53 billion.
• TechnipFMC has announced a quarterly dividend of $0.05 per share, equating to an annualized dividend yield of 0.5% and a payout ratio of 9.43%.

Encompass Capital Advisors LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,500,000 shares of the oil and gas company's stock, valued at approximately $47,535,000. TechnipFMC makes up about 1.8% of Encompass Capital Advisors LLC's holdings, making the stock its 21st largest holding. Encompass Capital Advisors LLC owned about 0.36% of TechnipFMC as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FTI. New York State Teachers Retirement System bought a new stake in TechnipFMC during the first quarter worth approximately $33,000. Financial Network Wealth Advisors LLC boosted its holdings in TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock worth $48,000 after buying an additional 346 shares in the last quarter. Brooklyn Investment Group boosted its holdings in TechnipFMC by 2,216.1% during the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock worth $68,000 after buying an additional 2,061 shares in the last quarter. GAMMA Investing LLC boosted its holdings in TechnipFMC by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after buying an additional 614 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after purchasing an additional 2,219 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

FTI traded up $0.45 during trading on Monday, hitting $39.35. The stock had a trading volume of 6,635,997 shares, compared to its average volume of 4,386,213. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market cap of $16.18 billion, a PE ratio of 18.56, a P/E/G ratio of 1.24 and a beta of 1.10. The company has a 50 day simple moving average of $35.49 and a 200-day simple moving average of $31.58. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $39.85.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. TechnipFMC has set its FY 2025 guidance at EPS. Analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, August 19th. TechnipFMC's dividend payout ratio (DPR) is currently 9.43%.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent analyst reports. BTIG Research lowered shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Susquehanna raised their price objective on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $41.00 price objective (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Barclays raised their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $38.92.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

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.