RFG Advisory LLC Acquires Shares of 28,022 TechnipFMC plc $FTI

Key Points

• RFG Advisory LLC disclosed a new fourth-quarter stake in TechnipFMC, buying 28,022 shares valued at about $1.25 million.
• TechnipFMC reported Q1 earnings of $0.64 per share, beating analyst estimates, while revenue of $2.49 billion came in slightly below expectations but still rose 11.6% year over year.
• Analysts remain mostly positive, with several rating upgrades and price-target increases; the stock’s consensus rating is Moderate Buy with an average target of $66.53, while insiders have also sold shares in recent months.

RFG Advisory LLC acquired a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,022 shares of the oil and gas company's stock, valued at approximately $1,249,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Personal CFO Solutions LLC boosted its stake in TechnipFMC by 3.0% in the fourth quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company's stock valued at $346,000 after acquiring an additional 225 shares during the last quarter. 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 during the last quarter. True Wealth Design LLC boosted its stake in TechnipFMC by 8.6% in the fourth quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company's stock valued at $200,000 after acquiring an additional 357 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in TechnipFMC by 1.5% in the third quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company's stock valued at $948,000 after acquiring an additional 365 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in TechnipFMC by 2.9% in the third quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company's stock valued at $572,000 after acquiring an additional 408 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research report on Wednesday. Evercore reissued an "outperform" rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Finally, Barclays lifted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $66.53.

Insiders Place Their Bets

In related news, insider Jonathan Landes sold 116,194 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.20, for a total value of $7,227,266.80. Following the sale, the insider directly owned 71,356 shares of the company's stock, valued at approximately $4,438,343.20. The trade was a 61.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,216,442 shares of company stock worth $75,762,414 in the last ninety days. 1.40% of the stock is owned by insiders.

TechnipFMC Trading Down 1.2%

Shares of NYSE FTI opened at $70.18 on Friday. The company's fifty day moving average is $69.62 and its 200-day moving average is $56.04. The stock has a market cap of $27.98 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.44 and a beta of 0.74. TechnipFMC plc has a twelve month low of $28.87 and a twelve month high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Equities research analysts predict that TechnipFMC plc will post 2.93 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, May 19th. TechnipFMC's payout ratio is currently 7.63%.

About TechnipFMC

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.

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC plc (NYSE:FTI - Free Report).

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.