Diversify Advisory Services LLC Buys New Position in TechnipFMC plc $FTI

Diversify Advisory Services LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,915 shares of the oil and gas company’s stock, valued at approximately $969,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of TechnipFMC during the first quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter worth $32,000. Geneos Wealth Management Inc. lifted its stake in shares of 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 period. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC during the first quarter worth $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC in the fourth quarter valued at $41,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays upped their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Evercore reissued an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Citigroup boosted their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Stock Performance

TechnipFMC stock opened at $77.07 on Thursday. The company has a market cap of $30.23 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 1.61 and a beta of 0.72. TechnipFMC plc has a 12 month low of $34.27 and a 12 month high of $80.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The stock’s 50-day moving average is $70.86 and its 200-day moving average is $68.99.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The company’s revenue was up 9.0% on a year-over-year basis. Equities analysts anticipate that TechnipFMC plc will post 3.08 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th 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, August 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 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.