Cubist Systematic Strategies LLC Acquires 11,016 Shares of TechnipFMC PLC (NYSE:FTI)

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Cubist Systematic Strategies LLC grew its holdings in TechnipFMC PLC (NYSE:FTI) by 566.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,960 shares of the oil and gas company’s stock after purchasing an additional 11,016 shares during the period. Cubist Systematic Strategies LLC’s holdings in TechnipFMC were worth $336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp grew its stake in TechnipFMC by 2.2% during the first quarter. Northern Trust Corp now owns 3,807,310 shares of the oil and gas company’s stock valued at $89,548,000 after acquiring an additional 83,502 shares in the last quarter. Primecap Management Co. CA grew its stake in TechnipFMC by 58.7% during the first quarter. Primecap Management Co. CA now owns 102,500 shares of the oil and gas company’s stock valued at $2,411,000 after acquiring an additional 37,900 shares in the last quarter. Allstate Corp grew its stake in TechnipFMC by 15.8% during the first quarter. Allstate Corp now owns 13,086 shares of the oil and gas company’s stock valued at $308,000 after acquiring an additional 1,782 shares in the last quarter. Nordea Investment Management AB grew its stake in TechnipFMC by 42.1% during the first quarter. Nordea Investment Management AB now owns 51,546 shares of the oil and gas company’s stock valued at $1,212,000 after acquiring an additional 15,282 shares in the last quarter. Finally, Horizon Investments LLC purchased a new position in TechnipFMC during the first quarter valued at approximately $220,000. 76.08% of the stock is currently owned by institutional investors.

FTI stock opened at $23.47 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.04. TechnipFMC PLC has a one year low of $18.20 and a one year high of $30.58. The stock has a market cap of $10.14 billion, a PE ratio of 33.76, a P/E/G ratio of 0.82 and a beta of 1.46. The firm has a 50 day simple moving average of $24.26 and a two-hundred day simple moving average of $24.20.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. TechnipFMC had a negative net margin of 15.64% and a positive return on equity of 2.76%. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the company earned $0.28 EPS. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, research analysts expect that TechnipFMC PLC will post 1.44 EPS for the current fiscal year.

FTI has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of TechnipFMC from $27.40 to $29.50 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. ValuEngine raised shares of TechnipFMC from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. AltaCorp Capital reaffirmed an “outperform” rating on shares of TechnipFMC in a research note on Thursday, June 20th. TheStreet cut shares of TechnipFMC from a “b-” rating to a “c” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets set a $32.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. TechnipFMC currently has a consensus rating of “Buy” and a consensus target price of $28.75.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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