Sierra Summit Advisors LLC Takes $972,000 Position in TechnipFMC plc $FTI

Sierra Summit Advisors LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 24,639 shares of the oil and gas company’s stock, valued at approximately $972,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Focus Partners Wealth lifted its stake in shares of TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after acquiring an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in TechnipFMC by 45.3% during 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 during the last quarter. Sivia Capital Partners LLC raised its position in shares of TechnipFMC by 76.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after purchasing an additional 6,381 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of TechnipFMC during the 2nd quarter valued at approximately $1,077,000. Finally, Assetmark Inc. grew its position in shares of TechnipFMC by 14.1% during the second quarter. Assetmark Inc. now owns 13,584 shares of the oil and gas company’s stock worth $468,000 after buying an additional 1,676 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the completion of the sale, the director directly owned 97,860 shares of the company’s stock, valued at approximately $6,400,044. This represents a 6.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FTI shares. UBS Group set a $70.00 price target on shares of TechnipFMC in a report on Friday, February 20th. Citigroup upped their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday. Barclays reaffirmed an “overweight” rating and set a $69.00 price target on shares of TechnipFMC in a research report on Friday, February 20th. Royal Bank Of Canada boosted their price objective on TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group increased their target price on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.93.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $66.26 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. The firm has a market capitalization of $26.51 billion, a PE ratio of 28.69, a P/E/G ratio of 1.27 and a beta of 0.69. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $67.55. The business’s fifty day moving average price is $54.51 and its two-hundred day moving average price is $45.38.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.51 by $0.19. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. TechnipFMC’s quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s payout ratio is currently 8.66%.

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.