PEAK6 LLC Invests $50,000 in TechnipFMC plc $FTI

PEAK6 LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,778 shares of the oil and gas company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTI. V Square Quantitative Management LLC acquired a new position in TechnipFMC in the 1st quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. grew its holdings 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 valued at $35,000 after acquiring an additional 340 shares in the last quarter. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC during the 1st quarter valued at $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of TechnipFMC in the second quarter worth $37,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Eric D. Mullins purchased 6,365 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

TechnipFMC Trading Down 2.0%

Shares of NYSE:FTI opened at $75.90 on Tuesday. 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 market capitalization of $29.76 billion, a PE ratio of 26.35, a P/E/G ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.55. The firm has a fifty day moving average price of $71.29 and a 200 day moving average price of $69.43.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Analysts expect that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 6.94%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FTI. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Royal Bank Of Canada upped their target price on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Barclays raised their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, UBS Group set a $80.00 price objective on TechnipFMC in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

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.