Clough Capital Partners L P Makes New Investment in TechnipFMC plc $FTI

Clough Capital Partners L P purchased a new position in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 52,180 shares of the oil and gas company’s stock, valued at approximately $2,325,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC during the 3rd quarter worth approximately $32,000. Harbor Investment Advisory LLC acquired a new position in TechnipFMC during the 4th quarter worth approximately $32,000. Geneos Wealth Management Inc. grew 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 acquiring an additional 340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of TechnipFMC in the 4th quarter valued at $41,000. Finally, Torren Management LLC acquired a new position in shares of TechnipFMC in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.4%

Shares of NYSE:FTI opened at $67.24 on Thursday. The stock has a market cap of $26.81 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.44 and a beta of 0.69. The firm has a fifty day moving average price of $71.44 and a 200 day moving average price of $61.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a 1-year low of $31.88 and a 1-year high of $77.78.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. Sell-side analysts predict that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 7.63%.

Analyst Ratings Changes

FTI has been the subject of several research analyst reports. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. BMO Capital Markets upped their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Citigroup upped their target price on shares of TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Susquehanna upped their target price on shares of TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.71.

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. This represents a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

About TechnipFMC

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.