Stephens Inc. AR Boosts Holdings in TechnipFMC plc $FTI

Stephens Inc. AR boosted its holdings in TechnipFMC plc (NYSE:FTI) by 290.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,741 shares of the oil and gas company’s stock after purchasing an additional 66,037 shares during the quarter. Stephens Inc. AR’s holdings in TechnipFMC were worth $3,501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners lifted its holdings in shares of TechnipFMC by 267.5% in the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after buying an additional 7,038,640 shares in the last quarter. Norges Bank bought a new stake in TechnipFMC in the 2nd quarter valued at $151,413,000. Pacer Advisors Inc. increased its holdings in TechnipFMC by 91.5% in the 3rd quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock valued at $151,382,000 after acquiring an additional 1,833,601 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in TechnipFMC by 61.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,399,955 shares of the oil and gas company’s stock worth $117,094,000 after purchasing an additional 1,296,358 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of TechnipFMC by 13.8% during the 2nd quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock valued at $342,279,000 after purchasing an additional 1,202,713 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FTI. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Jefferies Financial Group raised their price target on TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Citigroup upped their price objective on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Cowen reiterated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, January 7th. Finally, BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the stock an “outperform” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $52.17 on Friday. The stock has a market cap of $21.10 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.02 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. The stock has a 50 day moving average price of $45.92 and a 200-day moving average price of $40.28. TechnipFMC plc has a one year low of $22.11 and a one year high of $52.76.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.TechnipFMC’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. Equities analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 22nd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, November 18th. TechnipFMC’s dividend payout ratio is presently 8.93%.

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.