Insider Selling: TechnipFMC plc (NYSE:FTI) Director Sells 22,208 Shares of Stock

TechnipFMC plc (NYSE:FTI – Get Rating) Director Carvalho Filho Eleazar De sold 22,208 shares of TechnipFMC stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $15.10, for a total value of $335,340.80. Following the transaction, the director now directly owns 107,092 shares in the company, valued at approximately $1,617,089.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

TechnipFMC Stock Down 0.2 %

TechnipFMC stock opened at $13.69 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.20 and a quick ratio of 0.95. TechnipFMC plc has a 1-year low of $5.47 and a 1-year high of $16.03. The company has a market cap of $6.05 billion, a PE ratio of -59.65 and a beta of 1.75. The stock’s 50 day moving average price is $13.68 and its 200 day moving average price is $11.62.

TechnipFMC (NYSE:FTI – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). TechnipFMC had a negative net margin of 1.60% and a negative return on equity of 0.38%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that TechnipFMC plc will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on FTI shares. Barclays lifted their price target on TechnipFMC from $14.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 27th. Cowen lifted their target price on TechnipFMC from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. BTIG Research lifted their target price on TechnipFMC from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Citigroup lifted their target price on TechnipFMC from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Finally, Benchmark assumed coverage on TechnipFMC in a research note on Thursday, January 19th. They issued a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.45.

Institutional Trading of TechnipFMC

A number of institutional investors have recently modified their holdings of FTI. Hardman Johnston Global Advisors LLC purchased a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $226,060,000. FMR LLC boosted its position in TechnipFMC by 40.8% during the second quarter. FMR LLC now owns 45,221,055 shares of the oil and gas company’s stock worth $304,337,000 after purchasing an additional 13,097,003 shares in the last quarter. Alliancebernstein L.P. boosted its position in TechnipFMC by 68,732.1% during the fourth quarter. Alliancebernstein L.P. now owns 7,053,918 shares of the oil and gas company’s stock worth $85,987,000 after purchasing an additional 7,043,670 shares in the last quarter. Encompass Capital Advisors LLC boosted its position in TechnipFMC by 205.9% during the third quarter. Encompass Capital Advisors LLC now owns 9,175,529 shares of the oil and gas company’s stock worth $77,625,000 after purchasing an additional 6,175,529 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in TechnipFMC by 11.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,933,447 shares of the oil and gas company’s stock worth $718,398,000 after purchasing an additional 5,888,998 shares in the last quarter. 94.52% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Company Profile

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TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.