Pallas Capital Advisors LLC Takes $3.25 Million Position in TechnipFMC plc $FTI

Pallas Capital Advisors LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 49,009 shares of the oil and gas company’s stock, valued at approximately $3,249,000.

Several other institutional investors have also bought and sold shares of FTI. Focus Partners Advisor Solutions LLC bought a new position in shares of TechnipFMC during the second quarter valued at about $3,470,000. Chase Investment Counsel Corp bought a new stake in TechnipFMC in the 2nd quarter worth about $12,397,000. Asset Management One Co. Ltd. purchased a new stake in TechnipFMC in the 4th quarter valued at about $833,000. Fisher Asset Management LLC lifted its position in shares of TechnipFMC by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock worth $18,200,000 after buying an additional 27,111 shares in the last quarter. Finally, BankChampaign National Association purchased a new position in shares of TechnipFMC in the 1st quarter worth approximately $1,157,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $79.95 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The business has a fifty day simple moving average of $70.52 and a two-hundred day simple moving average of $68.68. TechnipFMC plc has a 1 year low of $34.27 and a 1 year high of $80.42. The company has a market capitalization of $31.35 billion, a P/E ratio of 27.76, a P/E/G ratio of 1.62 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results 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 firm had revenue of $2.76 billion for 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%.The business’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 firm earned $0.68 EPS. On average, analysts expect that TechnipFMC plc will post 3.06 earnings per share for the current year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Barclays raised their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC 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.