Baker Avenue Asset Management LP Invests $345,000 in TechnipFMC plc $FTI

Baker Avenue Asset Management LP bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the fourth quarter, Holdings Channel.com reports. The fund bought 7,746 shares of the oil and gas company’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. Focus Partners Wealth increased its position in shares of TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after purchasing an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Ossiam increased its position in shares of TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 546 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director owned 59,887 shares of the company’s stock, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Light sold 6,622 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the completion of the sale, the chief accounting officer directly owned 5,005 shares in the company, valued at $312,462.15. This represents a 56.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,210,092 shares of company stock worth $75,347,124 in the last three months. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

FTI has been the topic of a number of research analyst reports. Citigroup lifted their target price on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. BMO Capital Markets lifted their target price on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. Royal Bank Of Canada boosted their price target on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Susquehanna boosted their price target on TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

TechnipFMC Stock Performance

Shares of FTI stock opened at $68.16 on Friday. The stock has a market capitalization of $27.17 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.47 and a beta of 0.74. TechnipFMC plc has a 52-week low of $30.64 and a 52-week high of $77.78. The stock’s 50-day moving average price is $71.64 and its 200 day moving average price is $59.37. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. As a group, equities research analysts forecast that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

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

TechnipFMC 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.