Argent Trust Co increased its holdings in TechnipFMC plc (NYSE:FTI – Get Rating) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,739 shares of the oil and gas company’s stock after purchasing an additional 2,380 shares during the quarter. Argent Trust Co’s holdings in TechnipFMC were worth $216,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of FTI. Signaturefd LLC lifted its holdings in TechnipFMC by 88.5% in the fourth quarter. Signaturefd LLC now owns 2,964 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,392 shares during the period. Captrust Financial Advisors raised its holdings in shares of TechnipFMC by 65.1% during the second quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 2,943 shares during the period. Stephens Inc. AR acquired a new position in shares of TechnipFMC during the fourth quarter valued at about $54,000. Tower Research Capital LLC TRC raised its holdings in shares of TechnipFMC by 199.5% during the third quarter. Tower Research Capital LLC TRC now owns 6,612 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 4,404 shares during the period. Finally, Zions Bancorporation N.A. acquired a new position in shares of TechnipFMC during the first quarter valued at about $58,000. Institutional investors and hedge funds own 94.52% of the company’s stock.
Insider Transactions at TechnipFMC
In other news, Director Carvalho Filho Eleazar De sold 22,208 shares of TechnipFMC stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $15.10, for a total transaction of $335,340.80. Following the completion of the sale, the director now directly owns 107,092 shares of the company’s stock, valued at approximately $1,617,089.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by insiders.
TechnipFMC Stock Down 3.3 %
TechnipFMC (NYSE:FTI – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.08). TechnipFMC had a negative net margin of 0.66% and a positive return on equity of 0.04%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts anticipate that TechnipFMC plc will post 0.48 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on FTI shares. Citigroup upped their price objective on shares of TechnipFMC from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. BTIG Research increased their target price on shares of TechnipFMC from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Piper Sandler reduced their target price on shares of TechnipFMC from $19.00 to $18.00 in a research report on Monday, May 1st. StockNews.com began coverage on shares of TechnipFMC in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Cowen upped their price target on shares of TechnipFMC from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.10.
TechnipFMC Company Profile
TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.
- Get a free copy of the StockNews.com research report on TechnipFMC (FTI)
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