State of Alaska Department of Revenue Makes New $1.74 Million Investment in TechnipFMC plc $FTI

State of Alaska Department of Revenue acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 44,196 shares of the oil and gas company’s stock, valued at approximately $1,743,000.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 657 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in 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 worth $35,000 after purchasing an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of TechnipFMC during the 2nd quarter valued at about $44,000. McIlrath & Eck LLC boosted its holdings in shares of TechnipFMC by 476.3% during the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Ossiam grew its position in shares of TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE FTI opened at $52.36 on Friday. The business’s 50 day moving average price is $45.73 and its 200-day moving average price is $40.16. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $52.76. The company has a market cap of $21.18 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.02 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. TechnipFMC’s quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC declared that its board has approved a share repurchase plan on Wednesday, October 22nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 13.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is presently 8.93%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FTI. Citigroup boosted their target price on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BNP Paribas Exane raised TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a report on Friday, October 10th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Barclays boosted their price target on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, TD Cowen increased their price objective on shares of TechnipFMC from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $48.46.

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.