Bayforest Capital Ltd Sells 32,107 Shares of TechnipFMC plc $FTI

Bayforest Capital Ltd decreased its holdings in TechnipFMC plc (NYSE:FTI) by 93.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,356 shares of the oil and gas company’s stock after selling 32,107 shares during the quarter. Bayforest Capital Ltd’s holdings in TechnipFMC were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FTI. Oregon Public Employees Retirement Fund bought a new stake in shares of TechnipFMC during the 3rd quarter valued at about $3,265,000. State of Alaska Department of Revenue bought a new stake in TechnipFMC during the 3rd quarter valued at approximately $1,743,000. SG Americas Securities LLC boosted its position in TechnipFMC by 2.9% during the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock valued at $572,000 after acquiring an additional 408 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of TechnipFMC during the 3rd quarter worth approximately $369,000. Finally, Securian Asset Management Inc. bought a new position in shares of TechnipFMC in the 3rd quarter worth approximately $1,214,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 3.3%

Shares of NYSE FTI opened at $52.10 on Thursday. The firm’s 50 day moving average price is $45.53 and its 200-day moving average price is $40.07. The company has a market cap of $21.08 billion, a PE ratio of 23.26, a P/E/G ratio of 0.98 and a beta of 0.66. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $52.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. On average, equities research analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC announced that its Board of Directors has approved a share repurchase program on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 13.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. TechnipFMC’s dividend payout ratio (DPR) is 8.93%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on TechnipFMC from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. BNP Paribas set a $47.00 price objective on TechnipFMC and gave the company an “outperform” rating in a research report on Friday, October 10th. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. TD Cowen increased their price target on shares of TechnipFMC from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.46.

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.