Savvy Advisors Inc. Makes New $708,000 Investment in TechnipFMC plc $FTI

Savvy Advisors Inc. acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,942 shares of the oil and gas company’s stock, valued at approximately $708,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Plan A Wealth LLC acquired a new stake in TechnipFMC in the 3rd quarter worth about $217,000. ING Groep NV lifted its holdings in shares of TechnipFMC by 26.3% during the 3rd quarter. ING Groep NV now owns 1,092,894 shares of the oil and gas company’s stock worth $43,115,000 after acquiring an additional 227,800 shares during the period. Rhumbline Advisers boosted its position in shares of TechnipFMC by 184.8% in the third quarter. Rhumbline Advisers now owns 1,046,237 shares of the oil and gas company’s stock worth $41,274,000 after acquiring an additional 678,852 shares during the last quarter. Krilogy Financial LLC boosted its position in shares of TechnipFMC by 148.3% in the third quarter. Krilogy Financial LLC now owns 37,274 shares of the oil and gas company’s stock worth $1,578,000 after acquiring an additional 22,264 shares during the last quarter. Finally, Navellier & Associates Inc. grew its holdings in TechnipFMC by 2.5% in the third quarter. Navellier & Associates Inc. now owns 89,132 shares of the oil and gas company’s stock valued at $3,516,000 after purchasing an additional 2,162 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Up 0.5%

NYSE FTI opened at $61.35 on Friday. The stock has a market cap of $24.82 billion, a PE ratio of 27.39, a P/E/G ratio of 1.18 and a beta of 0.69. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $62.67. The business has a 50 day moving average price of $50.78 and a two-hundred day moving average price of $43.35. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

TechnipFMC declared that its Board of Directors has approved a share repurchase program on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Susquehanna raised their price objective on TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Citigroup increased their target price on shares of TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.