Chicago Partners Investment Group LLC Boosts Stake in TechnipFMC plc $FTI

Chicago Partners Investment Group LLC lifted its position in TechnipFMC plc (NYSE:FTI) by 46.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,039 shares of the oil and gas company’s stock after purchasing an additional 8,580 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in TechnipFMC were worth $1,953,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. PFG Investments LLC increased its position in TechnipFMC by 2.4% during the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock worth $495,000 after buying an additional 165 shares during the period. Independent Advisor Alliance boosted its holdings in shares of TechnipFMC by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after acquiring an additional 184 shares during the period. Personal CFO Solutions LLC boosted its holdings in shares of TechnipFMC by 3.0% in the fourth quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 225 shares during the period. Evolve Private Wealth LLC grew its position in shares of TechnipFMC by 0.7% during the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 227 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of TechnipFMC by 5.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock worth $235,000 after acquiring an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 2.1%

Shares of FTI stock opened at $74.55 on Wednesday. The company has a market capitalization of $29.72 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $69.24 and its two-hundred day moving average is $64.71. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 7.63%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FTI. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Piper Sandler increased their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.