Entropy Technologies LP Buys New Stake in TechnipFMC plc $FTI

Entropy Technologies LP purchased a new position in TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,192 shares of the oil and gas company’s stock, valued at approximately $1,746,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC during the 4th quarter worth approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC during the third quarter valued at $32,000. Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC in the 4th quarter worth about $41,000. Finally, Torren Management LLC acquired a new stake in shares of TechnipFMC during the 4th quarter worth about $45,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTI. Piper Sandler boosted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Susquehanna raised their price target on TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a report on Friday, May 1st. Evercore reissued an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Finally, Citigroup lifted their price target on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $69.71.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $68.41 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 1-year low of $31.88 and a 1-year high of $77.78. The stock has a market capitalization of $27.27 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.52 and a beta of 0.69. The business has a 50-day moving average price of $71.61 and a two-hundred day moving average price of $61.43.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. TechnipFMC’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts predict that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Insider Activity at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the sale, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

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.