Castleark Management LLC Sells 83,500 Shares of TechnipFMC plc (NYSE:FTI)

Castleark Management LLC reduced its stake in shares of TechnipFMC plc (NYSE:FTI) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 385,780 shares of the oil and gas company’s stock after selling 83,500 shares during the period. Castleark Management LLC owned 0.09% of TechnipFMC worth $11,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Yousif Capital Management LLC lifted its stake in TechnipFMC by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 357 shares in the last quarter. Sigma Planning Corp increased its stake in TechnipFMC by 3.3% in the 4th quarter. Sigma Planning Corp now owns 11,527 shares of the oil and gas company’s stock valued at $334,000 after buying an additional 363 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of TechnipFMC by 3.8% during the 4th quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after buying an additional 423 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of TechnipFMC by 55.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after buying an additional 525 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of TechnipFMC by 48.2% in the 4th quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after buying an additional 563 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 1.7%

Shares of FTI stock opened at $30.67 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. TechnipFMC plc has a one year low of $22.12 and a one year high of $33.45. The company’s fifty day moving average price is $28.29 and its 200-day moving average price is $29.34. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 20.18 and a beta of 0.98.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. Sell-side analysts expect that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is 10.53%.

Insider Activity

In related news, CAO David Light sold 10,147 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares of the company’s stock, valued at $187,472.10. The trade was a 57.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Susquehanna reduced their price target on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. StockNews.com downgraded TechnipFMC from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. Finally, Barclays increased their price objective on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.