Entropy Technologies LP Has $649,000 Stock Holdings in TechnipFMC plc $FTI

Key Points

• Entropy Technologies LP cut its TechnipFMC stake by 76.1% in the first quarter, selling 29,807 shares and retaining 9,385 shares valued at approximately $649,000.
• TechnipFMC reported quarterly EPS of $0.64, beating estimates of $0.57, while revenue rose 11.6% year over year to $2.49 billion. Institutional investors own 96.58% of the company’s stock.
• The company declared a quarterly dividend of $0.05, equivalent to an annualized $0.20 payout and a 0.3% yield. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $69.64.

Entropy Technologies LP decreased its position in TechnipFMC plc (NYSE:FTI - Free Report) by 76.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,385 shares of the oil and gas company's stock after selling 29,807 shares during the period. Entropy Technologies LP's holdings in TechnipFMC were worth $649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Wealth boosted its stake in shares of TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock valued at $764,000 after purchasing an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. raised its stake 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 buying an additional 340 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock valued at $508,000 after buying an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock valued at $188,000 after buying an additional 3,105 shares during the period. Finally, Ossiam boosted its stake in TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock valued at $55,000 after acquiring an additional 546 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Down 0.9%

Shares of NYSE:FTI opened at $71.77 on Thursday. TechnipFMC plc has a 52 week low of $34.27 and a 52 week high of $77.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The company has a market capitalization of $28.61 billion, a PE ratio of 27.39, a PEG ratio of 1.52 and a beta of 0.70. The company has a 50 day moving average price of $69.52 and a two-hundred day moving average price of $66.82.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. Analysts forecast that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio is currently 7.63%.

Wall Street Analyst Weigh In

A number of analysts have commented on FTI shares. Piper Sandler lifted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Susquehanna cut their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research note on Wednesday, July 8th. Evercore restated an "outperform" rating and issued a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Barclays lifted their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada upped their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, May 1st. One investment 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. Based on data from MarketBeat, the company presently 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.

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.