SIR Capital Management L.P. Sells 109,443 Shares of TechnipFMC plc (NYSE:FTI)

SIR Capital Management L.P. lowered its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 70.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,157 shares of the oil and gas company's stock after selling 109,443 shares during the period. SIR Capital Management L.P.'s holdings in TechnipFMC were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FTI. Wealth Enhancement Advisory Services LLC raised its position in shares of TechnipFMC by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 38,184 shares of the oil and gas company's stock valued at $1,105,000 after buying an additional 744 shares during the last quarter. Park Avenue Securities LLC bought a new stake in TechnipFMC in the fourth quarter worth $519,000. Hennessy Advisors Inc. increased its position in TechnipFMC by 6.7% in the fourth quarter. Hennessy Advisors Inc. now owns 404,740 shares of the oil and gas company's stock worth $11,713,000 after purchasing an additional 25,300 shares during the last quarter. Merit Financial Group LLC bought a new stake in TechnipFMC in the fourth quarter worth $410,000. Finally, Ballentine Partners LLC increased its position in TechnipFMC by 3.8% in the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company's stock worth $337,000 after purchasing an additional 423 shares during the last quarter. Institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FTI shares. Piper Sandler boosted 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. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research report on Monday, April 28th. Susquehanna reduced their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Barclays lifted their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, StockNews.com lowered shares of TechnipFMC from a "hold" rating to a "sell" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.83.

TechnipFMC Trading Down 0.5%

Shares of FTI traded down $0.15 during trading hours on Monday, reaching $31.15. 3,685,572 shares of the company traded hands, compared to its average volume of 4,016,941. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of 20.49 and a beta of 0.98. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45. 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 stock's fifty day moving average price is $28.11 and its 200 day moving average price is $29.30.

TechnipFMC (NYSE:FTI - Get Free Report) last issued 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 company 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%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. Sell-side analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. TechnipFMC's payout ratio is currently 10.53%.

Insider Activity at TechnipFMC

In related news, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares of the company's stock, valued at $3,004,301.76. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,706 shares of company stock worth $1,651,665 over the last three months. 1.80% of the stock is owned by corporate insiders.

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.