TechnipFMC plc (NYSE:FTI) Shares Sold by Merewether Investment Management LP

Merewether Investment Management LP cut its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 50.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 485,379 shares of the oil and gas company's stock after selling 491,176 shares during the period. Merewether Investment Management LP owned 0.11% of TechnipFMC worth $14,047,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of TechnipFMC during the 4th quarter worth $45,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of TechnipFMC during the 4th quarter worth $46,000. EverSource Wealth Advisors LLC increased its holdings in shares of TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of TechnipFMC by 48.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after buying an additional 563 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Down 0.7%

NYSE:FTI traded down $0.22 on Friday, reaching $31.33. The stock had a trading volume of 2,841,246 shares, compared to its average volume of 4,018,272. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $28.11 and a 200 day moving average of $29.28. The stock has a market cap of $13.13 billion, a P/E ratio of 20.61 and a beta of 0.98. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45.

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

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. TechnipFMC's payout ratio is 10.53%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Justin Rounce sold 42,178 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. This represents a 23.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,706 shares of company stock valued at $1,651,665. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Susquehanna dropped their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. StockNews.com cut shares of TechnipFMC from a "hold" rating to a "sell" rating in a research report on Friday. Piper Sandler upped their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Barclays upped their price target on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $37.00 price target on shares of TechnipFMC in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $36.83.

TechnipFMC 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.