Tidal Investments LLC Trims Stock Position in TechnipFMC plc (NYSE:FTI)

Tidal Investments LLC trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,497 shares of the oil and gas company’s stock after selling 5,262 shares during the quarter. Tidal Investments LLC’s holdings in TechnipFMC were worth $1,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 735 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in TechnipFMC in the third quarter valued at $30,000. GAMMA Investing LLC increased its holdings in TechnipFMC by 59.5% in the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 693 shares in the last quarter. Crewe Advisors LLC purchased a new position in TechnipFMC in the second quarter valued at $51,000. Finally, Toth Financial Advisory Corp increased its holdings in TechnipFMC by 1,900.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 1,900 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTI has been the subject of a number of recent analyst reports. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, October 29th. The Goldman Sachs Group began coverage on shares of TechnipFMC in a research note on Friday, December 13th. They set a “buy” rating and a $38.00 target price for the company. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Barclays boosted their target price on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $34.69.

TechnipFMC Trading Down 2.8 %

Shares of FTI stock opened at $29.95 on Wednesday. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of 19.70 and a beta of 1.54. 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 plc has a fifty-two week low of $18.33 and a fifty-two week high of $32.64. The firm’s 50 day moving average price is $28.58 and its two-hundred day moving average price is $27.03.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. TechnipFMC’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. On average, analysts anticipate that TechnipFMC plc will post 1.61 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. TechnipFMC’s dividend payout ratio (DPR) is presently 13.16%.

TechnipFMC declared that its board has approved a stock repurchase program on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

TechnipFMC Company 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.