Eric Mullins Purchases 6,365 Shares of TechnipFMC (NYSE:FTI) Stock

TechnipFMC plc (NYSE:FTI) Director Eric Mullins purchased 6,365 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

TechnipFMC Price Performance

FTI stock traded down $1.42 during trading on Tuesday, hitting $78.39. The company had a trading volume of 2,900,723 shares, compared to its average volume of 4,236,837. The company has a market cap of $30.74 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.62 and a beta of 0.72. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $80.42. The company has a fifty day moving average price of $70.52 and a two-hundred day moving average price of $68.68. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts expect that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is 6.94%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Susquehanna dropped their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday. Citigroup upped their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.64.

Hedge Funds Weigh In On TechnipFMC

Several institutional investors have recently bought and sold shares of FTI. V Square Quantitative Management LLC acquired a new position in TechnipFMC in the 1st quarter worth approximately $26,000. Newbridge Financial Services Group Inc. acquired a new stake in TechnipFMC in the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. boosted 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 valued at $35,000 after acquiring an additional 340 shares in the last quarter. Ascentis Independent Advisors acquired a new position in shares of TechnipFMC in the first quarter valued at approximately $37,000. Finally, Keating Financial Advisory Services Inc. acquired a new position in TechnipFMC during the 2nd quarter worth approximately $37,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

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.