Jackson Thornton Wealth Management LLC Takes Position in TechnipFMC plc $FTI

Jackson Thornton Wealth Management LLC purchased a new position in TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 13,484 shares of the oil and gas company’s stock, valued at approximately $511,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 657 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in TechnipFMC by 45.3% in 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 purchasing an additional 340 shares during the last quarter. McIlrath & Eck LLC grew its position in TechnipFMC by 476.3% in the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,024 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in TechnipFMC in the 2nd quarter worth about $44,000. Finally, Root Financial Partners LLC bought a new stake in shares of TechnipFMC during the third quarter valued at approximately $51,000. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Down 0.5%

NYSE FTI opened at $52.06 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 0.90. The company’s 50 day simple moving average is $46.09 and its 200 day simple moving average is $40.48. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $52.76. The company has a market capitalization of $21.06 billion, a P/E ratio of 23.24, a PEG ratio of 1.01 and a beta of 0.66.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. Equities research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were paid a $0.05 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. TechnipFMC’s payout ratio is 8.93%.

TechnipFMC declared that its board has approved a share repurchase program on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 13.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FTI shares. Barclays increased their price objective on TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a report on Wednesday, October 8th. BNP Paribas set a $47.00 price objective on shares of TechnipFMC and gave the company an “outperform” rating in a research note on Friday, October 10th. TD Cowen increased their target price on shares of TechnipFMC from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Citigroup boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average target price of $48.46.

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.