BNP Paribas Arbitrage SNC trimmed its position in TechnipFMC plc (NYSE:FTI – Free Report) by 37.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 926,367 shares of the oil and gas company’s stock after selling 563,724 shares during the period. BNP Paribas Arbitrage SNC’s holdings in TechnipFMC were worth $15,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in FTI. Global Retirement Partners LLC increased its position in shares of TechnipFMC by 52.1% in the 1st quarter. Global Retirement Partners LLC now owns 2,728 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 934 shares during the period. Captrust Financial Advisors boosted its holdings in TechnipFMC by 65.1% in the second quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 2,943 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in TechnipFMC by 199.5% in the third quarter. Tower Research Capital LLC TRC now owns 6,612 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 4,404 shares during the last quarter. Zions Bancorporation N.A. purchased a new stake in TechnipFMC in the first quarter valued at $58,000. Finally, American International Group Inc. purchased a new stake in TechnipFMC in the second quarter valued at $65,000. 98.79% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
FTI has been the topic of several recent research reports. StockNews.com initiated coverage on shares of TechnipFMC in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Barclays upped their price target on shares of TechnipFMC from $24.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. BTIG Research upped their price target on shares of TechnipFMC from $23.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 20th. Jefferies Financial Group lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and increased their target price for the stock from $18.00 to $22.00 in a research note on Friday, October 13th. Finally, Kepler Capital Markets lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and increased their target price for the stock from $19.00 to $19.50 in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.71.
TechnipFMC Trading Up 2.4 %
Shares of TechnipFMC stock opened at $20.63 on Friday. The firm has a market capitalization of $8.98 billion, a PE ratio of -257.81 and a beta of 1.73. TechnipFMC plc has a twelve month low of $11.09 and a twelve month high of $22.78. The firm’s 50-day moving average price is $20.79 and its 200 day moving average price is $17.96. The company has a current ratio of 1.19, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32.
TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.98 billion. TechnipFMC had a negative net margin of 0.46% and a positive return on equity of 3.70%. TechnipFMC’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts predict that TechnipFMC plc will post 0.47 EPS for the current fiscal year.
TechnipFMC Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Tuesday, November 21st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.97%. TechnipFMC’s payout ratio is -250.00%.
TechnipFMC announced that its board has approved a share buyback plan on Wednesday, July 26th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the oil and gas company to buy up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
TechnipFMC Company Profile
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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