Strategic Global Advisors LLC Makes New $5.26 Million Investment in TechnipFMC plc $FTI

Strategic Global Advisors LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 79,304 shares of the oil and gas company’s stock, valued at approximately $5,258,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. ANB Bank lifted its holdings in shares of TechnipFMC by 3.4% during the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 161 shares during the period. PFG Investments LLC grew its holdings in TechnipFMC by 2.4% in the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock valued at $495,000 after purchasing an additional 165 shares during the period. Independent Advisor Alliance increased its position in TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after purchasing an additional 184 shares during the last quarter. Evolve Private Wealth LLC increased its position in TechnipFMC by 0.7% during the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after purchasing an additional 227 shares during the last quarter. Finally, Caerus Investment Advisors LLC raised its stake in TechnipFMC by 1.1% during the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of several research reports. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Barclays increased their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. UBS Group set a $80.00 price target on shares of TechnipFMC in a report on Wednesday, June 3rd. Finally, Citigroup lifted their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Price Performance

FTI stock opened at $75.71 on Thursday. The stock’s 50 day moving average is $71.62 and its two-hundred day moving average is $69.70. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55. The company has a market capitalization of $29.69 billion, a PE ratio of 26.29, a P/E/G ratio of 1.54 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling

In other news, Director Eric D. Mullins acquired 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

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.