Traders Purchase Large Volume of TechnipFMC Call Options (NYSE:FTI)

TechnipFMC plc (NYSE:FTI) was the target of unusually large options trading on Friday. Investors bought 12,785 call options on the company. This is an increase of 2,071% compared to the typical daily volume of 589 call options.

TechnipFMC Stock Up 2.6%

Shares of NYSE:FTI traded up $1.99 on Friday, hitting $78.66. 509,242 shares of the company traded hands, compared to its average volume of 4,226,026. The stock has a 50 day simple moving average of $70.06 and a 200-day simple moving average of $68.34. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The company has a market cap of $30.85 billion, a PE ratio of 27.32, a PEG ratio of 1.56 and a beta of 0.72. TechnipFMC has a 52 week low of $34.27 and a 52 week high of $78.75.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. As a group, research analysts expect that TechnipFMC will post 3.05 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Hedge Funds Weigh In On TechnipFMC

Institutional investors have recently made changes to their positions in the business. Fiduciary Financial Advisors bought a new stake in TechnipFMC during the second quarter valued at about $145,000. L2 Asset Management LLC purchased a new position in TechnipFMC during the second quarter valued at approximately $896,000. Cibc World Market Inc. bought a new position in shares of TechnipFMC in the second quarter worth approximately $11,408,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of TechnipFMC in the second quarter worth $1,430,000. Finally, Osmosis Investment Management UK Ltd purchased a new position in shares of TechnipFMC during the 2nd quarter valued at $454,000. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FTI. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Susquehanna dropped their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Weiss Ratings cut TechnipFMC from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

About TechnipFMC

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.