SCP Investment LP Makes New $1.28 Million Investment in TechnipFMC plc $FTI

SCP Investment LP purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, Holdings Channel reports. The fund purchased 28,688 shares of the oil and gas company’s stock, valued at approximately $1,278,000. TechnipFMC comprises approximately 1.0% of SCP Investment LP’s portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of FTI. New York State Common Retirement Fund raised its holdings in shares of TechnipFMC by 8.4% in the third quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after acquiring an additional 23,600 shares in the last quarter. Savvy Advisors Inc. bought a new position in TechnipFMC during the 3rd quarter worth about $708,000. Principal Financial Group Inc. increased its position in TechnipFMC by 5,157.7% during the 3rd quarter. Principal Financial Group Inc. now owns 912,896 shares of the oil and gas company’s stock valued at $36,014,000 after purchasing an additional 895,533 shares during the period. Archford Capital Strategies LLC bought a new stake in shares of TechnipFMC in the 4th quarter valued at about $1,691,000. Finally, Danske Bank A S bought a new stake in shares of TechnipFMC in the 3rd quarter valued at about $52,848,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Susquehanna increased their price objective on shares of TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a research note on Friday, May 1st. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Royal Bank Of Canada increased their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Barclays lifted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

TechnipFMC Stock Performance

Shares of FTI stock opened at $69.42 on Wednesday. TechnipFMC plc has a 12-month low of $30.86 and a 12-month high of $77.78. The business’s fifty day simple moving average is $71.68 and its 200-day simple moving average is $59.65. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The company has a market cap of $27.68 billion, a PE ratio of 26.49, a PEG ratio of 1.47 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is presently 7.63%.

Insider Activity

In related news, CEO Douglas J. Pferdehirt sold 733,424 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $62.24, for a total value of $45,648,309.76. Following the completion of the transaction, the chief executive officer directly owned 2,411,852 shares of the company’s stock, valued at $150,113,668.48. This trade represents a 23.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Justin Rounce sold 172,276 shares of TechnipFMC stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $62.10, for a total transaction of $10,698,339.60. Following the completion of the sale, the executive vice president owned 119,667 shares of the company’s stock, valued at $7,431,320.70. This trade represents a 59.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,210,092 shares of company stock valued at $75,347,124. 1.40% of the stock is owned by company insiders.

About TechnipFMC

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.