Frank’s International N.V. (NYSE:FI) Position Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of Frank’s International N.V. (NYSE:FI) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,570 shares of the pipeline company’s stock after selling 1,802 shares during the period. JPMorgan Chase & Co.’s holdings in Frank’s International N.V. were worth $534,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its position in Frank’s International N.V. by 17.5% in the fourth quarter. State Street Corp now owns 877,548 shares of the pipeline company’s stock worth $10,803,000 after buying an additional 130,611 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Frank’s International N.V. by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 479,530 shares of the pipeline company’s stock worth $5,903,000 after buying an additional 14,721 shares in the last quarter. Norges Bank bought a new position in Frank’s International N.V. during the fourth quarter worth $5,008,000. Quadrature Capital Ltd bought a new position in Frank’s International N.V. during the fourth quarter worth $253,000. Finally, Kelman Lazarov Inc. increased its position in Frank’s International N.V. by 50.0% in the first quarter. Kelman Lazarov Inc. now owns 11,250 shares of the pipeline company’s stock worth $119,000 after buying an additional 3,750 shares in the last quarter. 30.24% of the stock is currently owned by institutional investors and hedge funds.

Frank’s International N.V. (FI) opened at 8.31 on Friday. Frank’s International N.V. has a 52 week low of $7.02 and a 52 week high of $14.86. The stock has a 50 day moving average of $8.23 and a 200-day moving average of $9.87. The stock’s market cap is $1.85 billion.

Frank’s International N.V. (NYSE:FI) last posted its earnings results on Tuesday, May 2nd. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.12). The firm had revenue of $110.73 million during the quarter, compared to analysts’ expectations of $107.79 million. Frank’s International N.V. had a negative net margin of 36.25% and a negative return on equity of 8.41%. The firm’s revenue for the quarter was down 27.9% compared to the same quarter last year. Analysts forecast that Frank’s International N.V. will post ($0.40) earnings per share for the current year.

Frank’s International N.V. announced that its Board of Directors has authorized a share buyback program on Thursday, May 25th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the pipeline company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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A number of research firms have weighed in on FI. Scotiabank reaffirmed a “hold” rating and set a $14.00 price target on shares of Frank’s International N.V. in a research note on Friday, March 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $11.00 price target on shares of Frank’s International N.V. in a research note on Wednesday, April 26th. Zacks Investment Research downgraded shares of Frank’s International N.V. from a “hold” rating to a “strong sell” rating in a research note on Monday, May 1st. Morgan Stanley cut their price target on shares of Frank’s International N.V. from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, May 8th. Finally, Barclays PLC set a $9.00 price target on shares of Frank’s International N.V. and gave the stock a “hold” rating in a research note on Monday, May 8th. Seven equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $10.25.

In other news, major shareholder Keith Mosing Family Par Donald sold 450,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $8.43, for a total value of $3,793,500.00. Following the completion of the sale, the insider now directly owns 9,802,720 shares in the company, valued at $82,636,929.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wbm Partnership, Lp sold 14,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.40, for a total transaction of $124,320.00. Following the completion of the sale, the insider now owns 9,903,867 shares of the company’s stock, valued at $83,192,482.80. The disclosure for this sale can be found here. Insiders sold 494,800 shares of company stock valued at $4,171,320 over the last 90 days. 77.90% of the stock is owned by corporate insiders.

Frank’s International N.V. Company Profile

Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.