Point72 Hong Kong Ltd Grows Position in TechnipFMC plc (NYSE:FTI)

Point72 Hong Kong Ltd raised its position in shares of TechnipFMC plc (NYSE:FTI) by 76.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 73,130 shares of the oil and gas company’s stock after purchasing an additional 31,672 shares during the quarter. Point72 Hong Kong Ltd’s holdings in TechnipFMC were worth $2,116,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of TechnipFMC by 2.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 38,184 shares of the oil and gas company’s stock worth $1,105,000 after purchasing an additional 744 shares during the period. Park Avenue Securities LLC purchased a new position in shares of TechnipFMC in the 4th quarter worth approximately $519,000. Hennessy Advisors Inc. boosted its holdings in shares of TechnipFMC by 6.7% in the 4th quarter. Hennessy Advisors Inc. now owns 404,740 shares of the oil and gas company’s stock worth $11,713,000 after purchasing an additional 25,300 shares during the period. Merit Financial Group LLC purchased a new position in shares of TechnipFMC in the 4th quarter worth approximately $410,000. Finally, Ballentine Partners LLC boosted its holdings in shares of TechnipFMC by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after purchasing an additional 423 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FTI shares. Susquehanna dropped their target price on TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a report on Monday, April 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Barclays raised their price target on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, Piper Sandler raised their price target on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

TechnipFMC Price Performance

Shares of FTI stock opened at $31.46 on Friday. TechnipFMC plc has a 52-week low of $22.12 and a 52-week high of $33.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a market capitalization of $13.19 billion, a P/E ratio of 20.70 and a beta of 0.98. The stock has a 50 day moving average price of $28.00 and a 200 day moving average price of $29.22.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. TechnipFMC’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, May 20th. TechnipFMC’s dividend payout ratio is 10.53%.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the sale, the executive vice president now directly owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares of the company’s stock, valued at $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,706 shares of company stock worth $1,651,665. 1.80% of the stock is currently owned by company insiders.

TechnipFMC 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.