Dark Forest Capital Management LP Sells 98,304 Shares of TechnipFMC plc (NYSE:FTI)

Dark Forest Capital Management LP lowered its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 46.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,787 shares of the oil and gas company's stock after selling 98,304 shares during the period. TechnipFMC makes up approximately 0.5% of Dark Forest Capital Management LP's portfolio, making the stock its 23rd largest position. Dark Forest Capital Management LP's holdings in TechnipFMC were worth $3,235,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Morse Asset Management Inc boosted its holdings in TechnipFMC by 1.9% in the third quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company's stock worth $1,772,000 after purchasing an additional 1,245 shares during the last quarter. Sanctuary Advisors LLC increased its position in TechnipFMC by 264.1% during the third quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company's stock valued at $755,000 after acquiring an additional 20,877 shares during the last quarter. Franklin Resources Inc. lifted its holdings in TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after acquiring an additional 679,748 shares during the period. GAMMA Investing LLC boosted its position in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company's stock worth $66,000 after purchasing an additional 414 shares during the last quarter. Finally, Insight Wealth Strategies LLC bought a new stake in shares of TechnipFMC during the 4th quarter valued at about $4,088,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

FTI stock traded up $0.05 during mid-day trading on Monday, hitting $28.38. The company had a trading volume of 1,693,585 shares, compared to its average volume of 3,971,452. The company has a 50-day moving average price of $27.52 and a 200 day moving average price of $28.91. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 18.68 and a beta of 1.11. 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 released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. On average, research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders 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 yield of 0.70%. TechnipFMC's dividend payout ratio (DPR) is currently 10.42%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 10,147 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction 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. The trade was a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on Monday, March 24th. The shares were 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 in the company, valued at approximately $3,004,301.76. This represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock valued at $1,651,665 in the last three months. Corporate insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FTI. StockNews.com downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Piper Sandler boosted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Evercore ISI upped their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Barclays lifted their target price on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Susquehanna reduced their price target on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.83.

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.