SCP Investment LP Acquires 5,200 Shares of TechnipFMC plc (NYSE:FTI)

SCP Investment LP raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 29.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,800 shares of the oil and gas company’s stock after purchasing an additional 5,200 shares during the quarter. TechnipFMC accounts for approximately 0.1% of SCP Investment LP’s portfolio, making the stock its 23rd largest position. SCP Investment LP’s holdings in TechnipFMC were worth $176,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors increased its stake in TechnipFMC by 521.5% during the 4th quarter. Captrust Financial Advisors now owns 3,505 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 2,941 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of TechnipFMC by 65.8% in the 4th quarter. Federated Hermes Inc. now owns 6,579 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,612 shares in the last quarter. Vantage Consulting Group Inc bought a new stake in shares of TechnipFMC in the 4th quarter worth $75,000. Inspire Advisors LLC bought a new stake in shares of TechnipFMC in the 4th quarter worth $86,000. Finally, Sourcerock Group LLC bought a new stake in shares of TechnipFMC in the 4th quarter worth $91,000. Institutional investors and hedge funds own 74.93% of the company’s stock.

NYSE FTI traded up $0.13 during trading on Friday, hitting $10.23. 56,007 shares of the company’s stock traded hands, compared to its average volume of 9,767,549. The stock has a market capitalization of $4.61 billion, a PE ratio of 13.85 and a beta of 2.25. TechnipFMC plc has a 12-month low of $5.11 and a 12-month high of $13.04. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $8.18.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Tuesday, April 27th. The oil and gas company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.07. TechnipFMC had a net margin of 2.91% and a return on equity of 3.02%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, research analysts expect that TechnipFMC plc will post -0.09 earnings per share for the current fiscal year.

Several analysts have recently issued reports on FTI shares. Morgan Stanley reduced their target price on shares of TechnipFMC from $8.80 to $8.50 and set an “equal weight” rating for the company in a research note on Friday, April 16th. Exane BNP Paribas started coverage on shares of TechnipFMC in a research note on Tuesday, March 2nd. They issued a “neutral” rating for the company. Berenberg Bank reiterated a “hold” rating on shares of TechnipFMC in a research note on Monday, March 8th. Kepler Capital Markets reiterated a “hold” rating and issued a $8.21 target price on shares of TechnipFMC in a research note on Thursday, February 25th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “neutral” rating on shares of TechnipFMC in a research report on Wednesday, March 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. TechnipFMC presently has an average rating of “Hold” and a consensus target price of $10.17.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through two 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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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