Chicago Partners Investment Group LLC Grows Stock Position in TechnipFMC plc $FTI

Chicago Partners Investment Group LLC increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 46.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,039 shares of the oil and gas company’s stock after purchasing an additional 8,580 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in TechnipFMC were worth $1,953,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised its position in TechnipFMC by 7.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 692,800 shares of the oil and gas company’s stock valued at $47,893,000 after purchasing an additional 47,000 shares in the last quarter. Diversify Wealth Management LLC grew its position in shares of TechnipFMC by 19.9% during the first quarter. Diversify Wealth Management LLC now owns 16,956 shares of the oil and gas company’s stock worth $1,172,000 after buying an additional 2,811 shares in the last quarter. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of TechnipFMC during the first quarter worth approximately $793,000. Citizens Financial Group Inc. RI increased its stake in shares of TechnipFMC by 71.8% during the first quarter. Citizens Financial Group Inc. RI now owns 14,998 shares of the oil and gas company’s stock worth $1,038,000 after buying an additional 6,270 shares during the period. Finally, Fifth Third Bancorp raised its holdings in TechnipFMC by 28.1% in the first quarter. Fifth Third Bancorp now owns 17,778 shares of the oil and gas company’s stock valued at $1,229,000 after acquiring an additional 3,895 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $74.55 on Wednesday. The firm has a market capitalization of $29.72 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.56 and a beta of 0.70. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $69.24 and its two-hundred day moving average is $64.71.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data 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. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. Research analysts forecast that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on FTI shares. Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Barclays raised 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. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Piper Sandler boosted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

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.