SCP Investment LP Boosts 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 raised its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 69.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,600 shares of the oil and gas company's stock after buying an additional 22,800 shares during the quarter. TechnipFMC comprises approximately 1.5% of SCP Investment LP's holdings, making the stock its 12th largest position. SCP Investment LP's holdings in TechnipFMC were worth $1,762,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Ameriprise Financial Inc. boosted its position in shares of TechnipFMC by 31.5% during the fourth quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after buying an additional 3,962,315 shares during the period. Anomaly Capital Management LP raised its stake in shares of TechnipFMC by 46.5% during the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after buying an additional 2,306,342 shares during the period. AQR Capital Management LLC grew its position in shares of TechnipFMC by 70.6% in the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock worth $119,602,000 after acquiring an additional 1,710,183 shares in the last quarter. Deutsche Bank AG lifted its position in TechnipFMC by 92.5% during the 4th quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company's stock worth $80,368,000 after buying an additional 1,334,555 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new position in TechnipFMC in the fourth quarter valued at about $36,567,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BTIG Research lowered TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Thursday, May 22nd. Barclays raised their target price on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted 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. Finally, Susquehanna raised their price objective on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and an average target price of $38.92.

Insider Buying and Selling

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction that occurred 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 owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

TechnipFMC Stock Down 1.1%

Shares of FTI stock traded down $0.41 during trading on Thursday, reaching $35.16. The company's stock had a trading volume of 517,950 shares, compared to its average volume of 4,459,753. The stock's 50-day moving average price is $34.32 and its 200 day moving average price is $30.78. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.17 and a beta of 1.04. TechnipFMC plc has a 1-year low of $22.11 and a 1-year 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 posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The firm's quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

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