TechnipFMC PLC (NYSE:FTI) Short Interest Update

TechnipFMC PLC (NYSE:FTI) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 8,050,000 shares, a decline of 5.7% from the December 15th total of 8,540,000 shares. Based on an average daily trading volume, of 3,510,000 shares, the short-interest ratio is currently 2.3 days. Currently, 1.9% of the company’s stock are short sold.

A number of research firms have recently commented on FTI. Jefferies Financial Group cut TechnipFMC from a “buy” rating to a “hold” rating and cut their target price for the stock from $33.00 to $21.00 in a research report on Friday, December 6th. Deutsche Bank began coverage on TechnipFMC in a research report on Wednesday, November 27th. They set a “buy” rating and a $33.00 target price on the stock. Bernstein Bank cut TechnipFMC to an “underperform” rating in a research report on Tuesday. Barclays reiterated a “hold” rating on shares of TechnipFMC in a research report on Wednesday, November 6th. Finally, Cowen cut their target price on TechnipFMC from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $28.12.

In other news, Director Olivier Piou bought 3,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $19.49 per share, for a total transaction of $58,470.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $58,470. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Maryann T. Mannen sold 14,500 shares of TechnipFMC stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $20.84, for a total value of $302,180.00. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in TechnipFMC by 72.0% in the 2nd quarter. Invesco Ltd. now owns 41,862,229 shares of the oil and gas company’s stock valued at $1,085,906,000 after purchasing an additional 17,526,728 shares in the last quarter. Millennium Management LLC boosted its holdings in TechnipFMC by 11,799.1% in the 3rd quarter. Millennium Management LLC now owns 5,168,149 shares of the oil and gas company’s stock valued at $124,759,000 after purchasing an additional 5,124,716 shares in the last quarter. Schroder Investment Management Group boosted its holdings in TechnipFMC by 92.0% in the 2nd quarter. Schroder Investment Management Group now owns 10,117,477 shares of the oil and gas company’s stock valued at $229,494,000 after purchasing an additional 4,847,007 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in TechnipFMC by 238.4% in the 3rd quarter. State of Tennessee Treasury Department now owns 3,005,245 shares of the oil and gas company’s stock valued at $72,547,000 after purchasing an additional 2,117,225 shares in the last quarter. Finally, Platinum Investment Management Ltd. boosted its holdings in TechnipFMC by 10.0% in the 2nd quarter. Platinum Investment Management Ltd. now owns 9,070,608 shares of the oil and gas company’s stock valued at $235,292,000 after purchasing an additional 821,127 shares in the last quarter. Hedge funds and other institutional investors own 79.86% of the company’s stock.

FTI stock traded down $0.32 during trading on Friday, hitting $19.76. The company had a trading volume of 115,380 shares, compared to its average volume of 3,559,964. The firm has a market cap of $9.40 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.05 and a beta of 1.47. TechnipFMC has a 1-year low of $18.42 and a 1-year high of $28.57. The firm has a 50-day moving average price of $20.32 and a 200-day moving average price of $22.82. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.43.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.38). The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.54 billion. TechnipFMC had a negative net margin of 16.30% and a positive return on equity of 2.11%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. Sell-side analysts anticipate that TechnipFMC will post 1.17 earnings per share for the current year.

TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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