Chase Investment Counsel Corp Makes New $12.40 Million Investment in TechnipFMC plc $FTI

Chase Investment Counsel Corp acquired a new stake in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 186,992 shares of the oil and gas company’s stock, valued at approximately $12,397,000. TechnipFMC comprises 2.6% of Chase Investment Counsel Corp’s portfolio, making the stock its 12th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Focus Partners Wealth raised its position in TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after purchasing an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. grew its position 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 increased its stake in TechnipFMC by 76.1% in the second 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 during the period. Northwestern Mutual Wealth Management Co. increased its stake in TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 3,105 shares during the period. Finally, Ossiam raised its holdings in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 546 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI stock opened at $78.63 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $70.30 and a 200-day simple moving average of $68.51. The company has a market cap of $30.84 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. TechnipFMC plc has a 12-month low of $34.27 and a 12-month high of $79.23.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that TechnipFMC plc will post 3.06 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently announced 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 dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FTI. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Citigroup upped their price objective on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.64.

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.