Corient Private Wealth LP Purchases Shares of 23,739 TechnipFMC plc $FTI

Corient Private Wealth LP acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,739 shares of the oil and gas company’s stock, valued at approximately $1,574,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FTI. Focus Partners Advisor Solutions LLC bought a new stake in shares of TechnipFMC during the second quarter valued at approximately $3,470,000. Chase Investment Counsel Corp bought a new position in shares of TechnipFMC in the 2nd quarter worth $12,397,000. Globeflex Capital L P bought a new position in shares of TechnipFMC in the 2nd quarter worth $1,011,000. Oppenheimer Asset Management Inc. acquired a new stake in TechnipFMC in the 2nd quarter valued at $8,407,000. Finally, BankChampaign National Association acquired a new stake in TechnipFMC in the 1st quarter valued at $1,157,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FTI. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Susquehanna reduced their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. Citigroup upped their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Barclays raised their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Stock Performance

NYSE FTI opened at $79.91 on Friday. The company has a fifty day moving average price of $73.10 and a 200-day moving average price of $70.43. The firm has a market cap of $31.34 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 1.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.70.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating 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 company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm earned $0.68 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.

Insider Buying and Selling at TechnipFMC

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

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.