Oak Harvest Investment Services Has $3.77 Million Stake in TechnipFMC plc $FTI

Key Points

• Oak Harvest Investment Services has increased its stake in TechnipFMC plc by 8.8%, owning 119,024 shares worth approximately $3.77 million after acquiring an additional 9,655 shares.
• TechnipFMC reported earnings of $0.68 per share for the latest quarter, surpassing analysts' expectations and achieving a revenue of $2.53 billion, which marked a 9.0% year-over-year increase.
• The company announced a quarterly dividend of $0.05, with a dividend yield of 0.6%, and is set to be paid on September 3rd to shareholders on record as of August 19th.

Oak Harvest Investment Services lifted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,024 shares of the oil and gas company's stock after purchasing an additional 9,655 shares during the period. Oak Harvest Investment Services' holdings in TechnipFMC were worth $3,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of TechnipFMC by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 1,462,924 shares of the oil and gas company's stock valued at $46,360,000 after purchasing an additional 8,823 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in TechnipFMC in the first quarter valued at approximately $205,000. Stephens Investment Management Group LLC boosted its stake in TechnipFMC by 0.8% in the first quarter. Stephens Investment Management Group LLC now owns 3,439,595 shares of the oil and gas company's stock valued at $109,001,000 after acquiring an additional 27,884 shares during the last quarter. New York State Teachers Retirement System bought a new position in TechnipFMC in the first quarter valued at approximately $33,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in TechnipFMC by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,761,185 shares of the oil and gas company's stock valued at $119,192,000 after acquiring an additional 111,644 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

TechnipFMC Trading Down 0.5%

Shares of NYSE FTI traded down $0.20 during midday trading on Tuesday, reaching $36.24. 3,696,911 shares of the stock were exchanged, compared to its average volume of 2,831,081. The business has a 50-day simple moving average of $35.00 and a two-hundred day simple moving average of $31.19. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.17 and a beta of 1.04. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $38.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. TechnipFMC has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC's dividend payout ratio (DPR) is presently 9.43%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays raised their price objective on shares of TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Evercore ISI raised their price objective on shares of TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.92.

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.