Diversify Advisory Services LLC Takes $969,000 Position in TechnipFMC plc $FTI

Diversify Advisory Services LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, HoldingsChannel reports. The institutional investor bought 12,915 shares of the oil and gas company’s stock, valued at approximately $969,000.

Several other institutional investors and hedge funds have also made changes to their positions in FTI. BlackRock Inc. purchased a new stake in TechnipFMC during the 2nd quarter worth $3,081,514,000. State Street Corp grew its stake in shares of TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares in the last quarter. Norges Bank acquired a new stake in shares of TechnipFMC during the fourth quarter valued at about $205,468,000. Invesco Ltd. increased its position in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after acquiring an additional 4,437,960 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on FTI. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. 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. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of TechnipFMC 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 transaction, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

TechnipFMC Stock Down 1.6%

Shares of TechnipFMC stock opened at $77.07 on Thursday. The business has a 50-day moving average price of $70.86 and a 200 day moving average price of $68.99. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $80.55. The firm has a market cap of $30.23 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.61 and a beta of 0.72. 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 issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. On average, sell-side analysts forecast that TechnipFMC plc will post 3.08 earnings per share for the current fiscal 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 issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is 6.94%.

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.