TechnipFMC plc (NYSE:FTI) Sees Significant Decrease in Short Interest

TechnipFMC plc (NYSE:FTI - Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 8,500,000 shares, a drop of 23.4% from the April 30th total of 11,090,000 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 5,150,000 shares, the days-to-cover ratio is presently 1.7 days.

TechnipFMC Trading Up 2.2%

Shares of FTI stock traded up $0.67 during trading hours on Tuesday, reaching $31.87. 3,228,896 shares of the stock traded hands, compared to its average volume of 4,027,891. The business has a fifty day moving average price of $28.52 and a 200 day moving average price of $29.48. TechnipFMC has a 1-year low of $22.12 and a 1-year high of $33.45. The firm has a market capitalization of $13.36 billion, a PE ratio of 20.97 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 EPS 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 company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the previous year, the firm posted $0.22 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that TechnipFMC will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, May 20th. TechnipFMC's dividend payout ratio is 10.53%.

Insider Activity at TechnipFMC

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

Institutional Trading of TechnipFMC

Large investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new stake in TechnipFMC in the first quarter worth approximately $33,000. Geneos Wealth Management Inc. grew its position 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 worth $35,000 after acquiring an additional 340 shares in the last quarter. Smartleaf Asset Management LLC boosted 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 period. Compagnie Lombard Odier SCmA bought a new stake in shares of TechnipFMC during the 4th quarter worth $45,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of TechnipFMC during the 4th quarter worth $46,000. 96.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FTI. 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 note on Friday, February 28th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Barclays boosted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Susquehanna dropped their target price on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.46.

TechnipFMC Company 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.