SCP Investment LP Grows Position in TechnipFMC plc (NYSE:FTI)

Key Points

• SCP Investment LP increased its stake in TechnipFMC plc by 69.5% during the first quarter, owning 55,600 shares valued at approximately $1.76 million.
• Analysts have mixed views on TechnipFMC, with Barclays raising its price target to $51.00, while others have downgraded the stock to "hold," resulting in an average rating of "Moderate Buy."
• TechnipFMC recently announced a quarterly dividend of $0.05 per share, resulting in an annual yield of 0.6% and a payout ratio of 9.43%.

SCP Investment LP boosted its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 69.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,600 shares of the oil and gas company's stock after purchasing an additional 22,800 shares during the quarter. TechnipFMC comprises 1.5% of SCP Investment LP's portfolio, making the stock its 12th largest holding. SCP Investment LP's holdings in TechnipFMC were worth $1,762,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its holdings in TechnipFMC by 49.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,206 shares of the oil and gas company's stock valued at $411,000 after acquiring an additional 4,684 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of TechnipFMC by 14.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 63,575 shares of the oil and gas company's stock worth $1,840,000 after purchasing an additional 7,830 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of TechnipFMC during the 4th quarter worth approximately $4,916,000. Westpac Banking Corp bought a new position in shares of TechnipFMC during the 4th quarter worth approximately $55,000. Finally, Foundry Partners LLC boosted its stake in shares of TechnipFMC by 4.4% during the 4th quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company's stock worth $394,000 after acquiring an additional 577 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This represents a 12.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FTI. Evercore ISI upped their target price on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Citigroup restated a "buy" rating and set a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Susquehanna increased their price objective on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, Barclays increased their price objective on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

TechnipFMC Stock Down 1.2%

NYSE:FTI traded down $0.44 during mid-day trading on Tuesday, reaching $35.25. The stock had a trading volume of 292,650 shares, compared to its average volume of 4,485,658. The stock has a market cap of $14.49 billion, a P/E ratio of 16.58, a PEG ratio of 1.16 and a beta of 1.04. The business's 50 day moving average is $34.11 and its 200 day moving average is $30.72. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week 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 issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The business's revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. As a group, sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

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.