Viking Fund Management LLC Invests $1.27 Million in TechnipFMC plc (NYSE:FTI)

Viking Fund Management LLC purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,000 shares of the oil and gas company's stock, valued at approximately $1,268,000.

Several other large investors also recently made changes to their positions in the stock. Avantax Advisory Services Inc. boosted its stake in TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after purchasing an additional 4,314 shares during the period. Raymond James Financial Inc. acquired a new position in shares of TechnipFMC during the fourth quarter worth about $9,152,000. Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock worth $105,618,000 after buying an additional 249,719 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of TechnipFMC by 1,024.4% during the fourth quarter. Jones Financial Companies Lllp now owns 14,347 shares of the oil and gas company's stock worth $415,000 after buying an additional 13,071 shares in the last quarter. Finally, Ninety One UK Ltd raised its position in TechnipFMC by 69.7% in the 4th quarter. Ninety One UK Ltd now owns 813,016 shares of the oil and gas company's stock valued at $23,529,000 after buying an additional 333,897 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

FTI has been the subject of several research reports. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Sanford C. Bernstein cut 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 report on Thursday, May 22nd. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Susquehanna lowered their target price on TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Two equities research 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.46.

TechnipFMC Stock Performance

Shares of NYSE FTI traded up $0.18 during trading hours on Thursday, reaching $31.78. 2,400,070 shares of the stock were exchanged, compared to its average volume of 4,498,680. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock's fifty day simple moving average is $28.54 and its 200 day simple moving average is $29.52. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $33.45. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 20.91 and a beta of 1.06.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. Sell-side analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. TechnipFMC's payout ratio is 10.53%.

Insider Buying and Selling at TechnipFMC

In related news, CAO David Light sold 10,147 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at $187,472.10. This trade represents a 57.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the transaction, the director now directly owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock valued at $1,651,665 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

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.