Argent Trust Co Acquires 2,380 Shares of TechnipFMC plc (NYSE:FTI)

Argent Trust Co increased its holdings in shares of TechnipFMC plc (NYSE:FTI – Get Rating) by 15.5% during the 4th quarter, HoldingsChannel reports. The fund owned 17,739 shares of the oil and gas company’s stock after buying an additional 2,380 shares during the period. Argent Trust Co’s holdings in TechnipFMC were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in shares of TechnipFMC by 5.4% in the fourth quarter. William Blair Investment Management LLC now owns 21,822,339 shares of the oil and gas company’s stock worth $266,014,000 after buying an additional 1,123,501 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of TechnipFMC by 7.0% in the third quarter. Dimensional Fund Advisors LP now owns 19,839,223 shares of the oil and gas company’s stock worth $167,839,000 after buying an additional 1,296,637 shares in the last quarter. Hardman Johnston Global Advisors LLC bought a new position in TechnipFMC during the fourth quarter valued at approximately $226,060,000. BlackRock Inc. lifted its position in TechnipFMC by 11.6% during the first quarter. BlackRock Inc. now owns 9,915,455 shares of the oil and gas company’s stock valued at $76,845,000 after purchasing an additional 1,029,472 shares during the period. Finally, Encompass Capital Advisors LLC lifted its position in TechnipFMC by 205.9% during the third quarter. Encompass Capital Advisors LLC now owns 9,175,529 shares of the oil and gas company’s stock valued at $77,625,000 after purchasing an additional 6,175,529 shares during the period. Institutional investors own 94.52% of the company’s stock.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $13.88 on Friday. The firm has a fifty day moving average price of $13.49 and a 200-day moving average price of $13.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.20 and a quick ratio of 0.93. The stock has a market cap of $6.13 billion, a PE ratio of -138.80 and a beta of 1.74. TechnipFMC plc has a 1 year low of $5.47 and a 1 year high of $16.03.

TechnipFMC (NYSE:FTI – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. TechnipFMC had a positive return on equity of 0.04% and a negative net margin of 0.66%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. Equities analysts anticipate that TechnipFMC plc will post 0.48 earnings per share for the current fiscal year.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 22,208 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $15.10, for a total transaction of $335,340.80. Following the completion of the transaction, the director now owns 107,092 shares in the company, valued at $1,617,089.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FTI. BTIG Research increased their price objective on shares of TechnipFMC from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 24th. StockNews.com began coverage on shares of TechnipFMC in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Cowen increased their price objective on shares of TechnipFMC from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Piper Sandler lowered their price objective on shares of TechnipFMC from $19.00 to $18.00 in a research report on Monday, May 1st. Finally, Citigroup upped their target price on shares of TechnipFMC from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.10.

TechnipFMC Profile

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TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.