Short Interest in TechnipFMC plc (NYSE:FTI) Increases By 91.4%

Key Points

• Short interest in TechnipFMC plc surged by 91.4% in September, reaching a total of 17,840,000 shares sold short, which is 4.4% of its total shares.
• The company recently announced its quarterly earnings, reporting $0.68 EPS, which exceeded analysts' expectations of $0.57, and a revenue increase of 9.0% year-over-year.
• TechnipFMC has declared a quarterly dividend of $0.05 per share, translating to an annualized dividend yield of 0.5%.

TechnipFMC plc (NYSE:FTI - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 17,840,000 shares, a growth of 91.4% from the August 31st total of 9,320,000 shares. Based on an average daily trading volume, of 5,340,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 4.4% of the shares of the stock are sold short. Currently, 4.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,340,000 shares, the days-to-cover ratio is presently 3.3 days.

TechnipFMC Trading Down 1.0%

FTI traded down $0.40 during midday trading on Friday, reaching $38.02. 3,221,768 shares of the company were exchanged, compared to its average volume of 8,305,606. The stock has a market capitalization of $15.63 billion, a P/E ratio of 17.94, a PEG ratio of 1.22 and a beta of 1.04. TechnipFMC has a one year low of $22.11 and a one year high of $41.29. The stock's 50-day simple moving average is $37.51 and its 200 day simple moving average is $33.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%.The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the business posted $0.43 EPS. TechnipFMC's revenue was up 9.0% on a year-over-year basis. TechnipFMC has set its FY 2025 guidance at EPS. As a group, analysts forecast that TechnipFMC will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. TechnipFMC's payout ratio is 9.43%.

Wall Street Analyst Weigh In

FTI has been the subject of several research reports. Evercore ISI lifted their target price on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada raised their target price 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, Weiss Ratings reiterated a "buy (b)" rating on shares of TechnipFMC in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.21.

Insider Activity at TechnipFMC

In other TechnipFMC news, insider Thierry Conti sold 50,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $38.64, for a total transaction of $1,932,000.00. Following the sale, the insider owned 56,352 shares of the company's stock, valued at $2,177,441.28. This represents a 47.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. The trade was a 12.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 885,984 shares of company stock worth $34,180,811 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of TechnipFMC

Several hedge funds have recently added to or reduced their stakes in FTI. New York State Teachers Retirement System acquired a new position in TechnipFMC in the first quarter valued at about $33,000. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $44,000. Financial Network Wealth Advisors LLC increased its stake in TechnipFMC by 29.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock worth $48,000 after purchasing an additional 346 shares in the last quarter. Finally, Ossiam raised its holdings in TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock worth $55,000 after buying an additional 546 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

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.

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