TechnipFMC plc $FTI Shares Sold by Fig Financial Advisory Services Inc. ADV

Fig Financial Advisory Services Inc. ADV trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 48.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,707 shares of the oil and gas company’s stock after selling 9,105 shares during the period. Fig Financial Advisory Services Inc. ADV’s holdings in TechnipFMC were worth $644,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the 1st quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. raised its holdings in shares of 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 acquiring an additional 340 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of TechnipFMC in the first quarter worth $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC in the fourth quarter valued at $41,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on FTI. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Barclays raised their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Stock Performance

NYSE:FTI opened at $78.39 on Wednesday. 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. The firm’s 50 day moving average is $70.72 and its two-hundred day moving average is $68.84. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $80.42. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Analysts expect that TechnipFMC plc will post 3.08 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, August 18th. TechnipFMC’s payout ratio is 6.94%.

Insider Buying and Selling

In other news, Director Eric D. Mullins acquired 6,365 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Company 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.