Cerity Partners LLC Purchases 2,385 Shares of TechnipFMC plc (NYSE:FTI)

Cerity Partners LLC boosted its holdings in shares of TechnipFMC plc (NYSE:FTIGet Rating) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,403 shares of the oil and gas company’s stock after buying an additional 2,385 shares during the period. Cerity Partners LLC’s holdings in TechnipFMC were worth $130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTI. JFS Wealth Advisors LLC boosted its position in shares of TechnipFMC by 773.8% during the 2nd quarter. JFS Wealth Advisors LLC now owns 3,836 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 3,397 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of TechnipFMC in the 2nd quarter valued at $28,000. Zions Bancorporation N.A. bought a new position in shares of TechnipFMC during the 1st quarter valued at $58,000. FirstPurpose Wealth LLC purchased a new position in TechnipFMC in the 2nd quarter worth $75,000. Finally, Capital Advisors Inc. OK bought a new stake in TechnipFMC in the first quarter worth $78,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $12.13 on Thursday. The company has a 50 day simple moving average of $10.25 and a two-hundred day simple moving average of $8.53. TechnipFMC plc has a fifty-two week low of $5.47 and a fifty-two week high of $12.42. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -24.26 and a beta of 1.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.27.

TechnipFMC declared that its board has authorized a share buyback plan on Wednesday, July 27th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Exane BNP Paribas upgraded TechnipFMC from a “neutral” rating to an “outperform” rating in a report on Wednesday, September 21st. BNP Paribas raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $14.50 price objective for the company in a research note on Wednesday, September 21st. Barclays raised TechnipFMC from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $14.00 in a research note on Thursday, October 6th. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $13.50 target price for the company in a report on Tuesday, October 25th. Finally, Citigroup boosted their price objective on shares of TechnipFMC to $12.40 in a research report on Tuesday, November 15th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $12.37.

TechnipFMC Profile

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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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