SIR Capital Management L.P. Sells 24,218 Shares of TechnipFMC plc $FTI

SIR Capital Management L.P. cut its holdings in TechnipFMC plc (NYSE:FTI) by 26.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,300 shares of the oil and gas company’s stock after selling 24,218 shares during the period. SIR Capital Management L.P.’s holdings in TechnipFMC were worth $2,999,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new stake in TechnipFMC in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC in the third quarter worth $32,000. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in TechnipFMC in the fourth quarter worth $41,000. Finally, Torren Management LLC bought a new stake in TechnipFMC in the fourth quarter worth $45,000. 96.58% of the stock is owned by institutional investors.

Insider Activity at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director directly owned 59,887 shares of the company’s stock, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on FTI shares. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.71.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $70.70 on Friday. The company has a market cap of $28.19 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a 50-day moving average price of $71.67 and a 200-day moving average price of $61.15. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, equities analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio is 7.63%.

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.