Mengis Capital Management Inc. Buys Shares of 15,600 TechnipFMC plc $FTI

Key Points

• Mengis Capital Management Inc. acquired 15,600 shares of TechnipFMC plc, valued at approximately $537,000, in the second quarter of this year.
• TechnipFMC recently received several upgrades from analysts, with price targets increased by firms like Susquehanna and Barclays, indicating positive market sentiment.
• CEO Douglas J. Pferdehirt and CFO Alf Melin sold significant amounts of stock recently, with insiders selling a total of 885,984 shares worth $34.2 million over the past three months.

Mengis Capital Management Inc. bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,600 shares of the oil and gas company's stock, valued at approximately $537,000.

Other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new stake in TechnipFMC in the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. boosted its stake 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 valued at $35,000 after acquiring an additional 340 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its stake in TechnipFMC by 29.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after acquiring an additional 346 shares in the last quarter. Brooklyn Investment Group boosted its stake in TechnipFMC by 2,216.1% in the first quarter. Brooklyn Investment Group now owns 2,154 shares of the oil and gas company's stock valued at $68,000 after acquiring an additional 2,061 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its stake in TechnipFMC by 67.2% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,608 shares of the oil and gas company's stock valued at $90,000 after acquiring an additional 1,048 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FTI shares. Susquehanna raised their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price target on shares of TechnipFMC from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Barclays raised their price target on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $39.69.

Insider Activity

In other TechnipFMC news, CEO Douglas J. Pferdehirt sold 632,539 shares of TechnipFMC stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $38.62, for a total value of $24,428,656.18. Following the completion of the transaction, the chief executive officer owned 2,917,054 shares of the company's stock, valued at approximately $112,656,625.48. The trade was a 17.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alf Melin sold 113,760 shares of TechnipFMC stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.61, for a total transaction of $4,392,273.60. Following the completion of the sale, the chief financial officer owned 241,140 shares in the company, valued at approximately $9,310,415.40. This trade represents a 32.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 885,984 shares of company stock worth $34,180,811 over the last three months. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Trading Down 2.7%

Shares of TechnipFMC stock opened at $36.90 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The firm has a fifty day moving average price of $37.59 and a 200 day moving average price of $33.42. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $41.29. The stock has a market cap of $15.17 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the company earned $0.43 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. Equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. TechnipFMC's payout ratio is presently 9.43%.

TechnipFMC Company Profile

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.

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