TechnipFMC plc $FTI Stake Lifted by Chase Investment Counsel Corp

Chase Investment Counsel Corp grew its holdings in TechnipFMC plc (NYSE:FTI) by 6.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 189,369 shares of the oil and gas company’s stock after buying an additional 11,466 shares during the period. TechnipFMC accounts for approximately 3.4% of Chase Investment Counsel Corp’s portfolio, making the stock its 4th largest position. Chase Investment Counsel Corp’s holdings in TechnipFMC were worth $13,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FTI. PNC Financial Services Group Inc. raised its stake in TechnipFMC by 135.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 74,194 shares of the oil and gas company’s stock valued at $5,129,000 after acquiring an additional 42,697 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of TechnipFMC during the first quarter worth approximately $1,276,000. DUTCH ASSET Corp lifted its holdings in shares of TechnipFMC by 18.3% during the first quarter. DUTCH ASSET Corp now owns 17,441 shares of the oil and gas company’s stock worth $1,206,000 after purchasing an additional 2,703 shares during the period. Earned Wealth Advisors LLC grew its position in TechnipFMC by 6.8% in the 1st quarter. Earned Wealth Advisors LLC now owns 9,101 shares of the oil and gas company’s stock valued at $629,000 after buying an additional 583 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in TechnipFMC by 7.2% during the 1st quarter. Meeder Asset Management Inc. now owns 84,432 shares of the oil and gas company’s stock worth $5,837,000 after buying an additional 5,675 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $74.54 on Wednesday. The stock has a fifty day moving average price of $69.31 and a 200 day moving average price of $65.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The stock has a market cap of $29.72 billion, a PE ratio of 28.45, a P/E/G ratio of 1.51 and a beta of 0.70. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is 7.63%.

Analyst Ratings Changes

Several analysts have recently weighed in on FTI shares. Susquehanna lowered their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. UBS Group set a $80.00 price target on TechnipFMC in a research note on Wednesday, June 3rd. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Piper Sandler boosted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.