Eric Mullins Acquires 6,365 Shares of TechnipFMC (NYSE:FTI) Stock

TechnipFMC plc (NYSE:FTI) Director Eric Mullins purchased 6,365 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. This trade 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 the SEC website.

TechnipFMC Stock Performance

FTI stock opened at $77.07 on Thursday. 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 $34.27 and a 1 year high of $80.55. The company has a market cap of $30.23 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.61 and a beta of 0.72. The stock’s fifty day moving average price is $70.86 and its 200-day moving average price is $68.99.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating 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%.TechnipFMC’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. On average, equities analysts forecast that TechnipFMC plc will post 3.08 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 6.94%.

Hedge Funds Weigh In On TechnipFMC

Several large investors have recently made changes to their positions in FTI. V Square Quantitative Management LLC purchased a new stake in shares of TechnipFMC during the first quarter worth about $26,000. Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC during the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC in the first quarter worth $37,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of TechnipFMC during the second quarter worth $37,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FTI has been the subject of several recent research reports. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Susquehanna decreased their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, UBS Group set a $80.00 price objective on TechnipFMC in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average 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.