RFG Advisory LLC Decreases Holdings in TechnipFMC plc $FTI

RFG Advisory LLC decreased its stake in TechnipFMC plc (NYSE:FTI) by 46.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,953 shares of the oil and gas company’s stock after selling 13,069 shares during the period. RFG Advisory LLC’s holdings in TechnipFMC were worth $1,034,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTI. Citigroup boosted their target price on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Evercore restated an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Finally, Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

TechnipFMC Stock Performance

NYSE:FTI opened at $64.44 on Monday. The company has a market cap of $25.69 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.38 and a beta of 0.69. The stock’s fifty day moving average price is $70.39 and its two-hundred day moving average price is $62.71. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.

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

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s payout ratio is presently 7.63%.

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.