PEAK6 LLC Purchases Shares of 12,778 TechnipFMC plc $FTI

PEAK6 LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,778 shares of the oil and gas company’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in TechnipFMC during the second quarter worth about $3,081,514,000. State Street Corp raised its position in TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after acquiring an additional 4,938,498 shares in the last quarter. Norges Bank acquired a new stake in TechnipFMC in the 4th quarter valued at about $205,468,000. Invesco Ltd. lifted its holdings in TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after acquiring an additional 4,437,960 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after purchasing an additional 3,549,839 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FTI shares. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, Royal Bank Of Canada raised their price objective on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.64.

Insiders Place Their Bets

In other news, Director Eric D. Mullins bought 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director directly owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

FTI stock opened at $75.90 on Tuesday. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.55. The firm has a 50-day moving average of $71.29 and a two-hundred day moving average of $69.43. The firm has a market capitalization of $29.76 billion, a PE ratio of 26.35, a P/E/G ratio of 1.58 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the firm posted $0.68 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

TechnipFMC Company 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.