OppenheimerFunds Inc. cut its stake in shares of TechnipFMC PLC (NYSE:FTI) by 47.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,951 shares of the oil and gas company’s stock after selling 41,004 shares during the quarter. OppenheimerFunds Inc.’s holdings in TechnipFMC were worth $1,353,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in FTI. Toronto Dominion Bank grew its stake in shares of TechnipFMC by 13.4% during the 4th quarter. Toronto Dominion Bank now owns 189,182 shares of the oil and gas company’s stock valued at $5,923,000 after acquiring an additional 22,414 shares during the period. Arizona State Retirement System boosted its stake in TechnipFMC by 2.0% in the 4th quarter. Arizona State Retirement System now owns 111,086 shares of the oil and gas company’s stock worth $3,478,000 after purchasing an additional 2,186 shares during the period. Rhumbline Advisers boosted its stake in TechnipFMC by 0.7% in the 4th quarter. Rhumbline Advisers now owns 386,833 shares of the oil and gas company’s stock worth $12,112,000 after purchasing an additional 2,636 shares during the period. BlackRock Inc. boosted its stake in TechnipFMC by 4.7% in the 4th quarter. BlackRock Inc. now owns 22,394,509 shares of the oil and gas company’s stock worth $701,171,000 after purchasing an additional 1,013,425 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in TechnipFMC by 2,289.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,912 shares of the oil and gas company’s stock worth $467,000 after purchasing an additional 14,288 shares during the period. Institutional investors own 63.91% of the company’s stock.
FTI has been the subject of several recent analyst reports. Goldman Sachs Group upgraded TechnipFMC from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, April 11th. Cowen set a $38.00 price target on TechnipFMC and gave the stock a “buy” rating in a research note on Friday, April 13th. Susquehanna Bancshares set a $38.00 price target on TechnipFMC and gave the stock a “buy” rating in a research note on Friday, February 23rd. Royal Bank of Canada set a $36.00 price target on TechnipFMC and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, DNB Markets upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. TechnipFMC currently has a consensus rating of “Buy” and a consensus target price of $33.92.
NYSE FTI opened at $31.47 on Wednesday. TechnipFMC PLC has a one year low of $24.53 and a one year high of $35.00. The company has a market cap of $14.69 billion, a PE ratio of 24.40, a PEG ratio of 7.82 and a beta of 0.80. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 0.28.
TechnipFMC (NYSE:FTI) last announced its earnings results on Wednesday, May 9th. The oil and gas company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.04). The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.11 billion. TechnipFMC had a return on equity of 4.58% and a net margin of 1.54%. TechnipFMC’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. sell-side analysts expect that TechnipFMC PLC will post 1.34 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 6th. Shareholders of record on Tuesday, May 22nd were issued a $0.13 dividend. The ex-dividend date was Monday, May 21st. This represents a $0.52 annualized dividend and a dividend yield of 1.65%. TechnipFMC’s dividend payout ratio is currently 40.31%.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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