Cannell & Spears LLC Has $4.61 Million Holdings in TechnipFMC plc $FTI

Cannell & Spears LLC decreased its position in TechnipFMC plc (NYSE:FTI) by 45.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,188 shares of the oil and gas company’s stock after selling 56,612 shares during the period. Cannell & Spears LLC’s holdings in TechnipFMC were worth $4,609,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. bought a new stake in TechnipFMC in the fourth quarter worth approximately $833,000. Fisher Asset Management LLC boosted its holdings in shares of TechnipFMC by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock worth $18,200,000 after buying an additional 27,111 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of TechnipFMC in the 4th quarter valued at $641,000. Archford Capital Strategies LLC bought a new stake in shares of TechnipFMC in the 4th quarter valued at $1,691,000. Finally, HighTower Advisors LLC lifted its position in shares of TechnipFMC by 54.7% during the 4th quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company’s stock valued at $2,087,000 after acquiring an additional 16,562 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of FTI opened at $76.70 on Friday. The business’s fifty day moving average is $69.53 and its 200 day moving average is $66.19. TechnipFMC plc has a 12-month low of $34.27 and a 12-month high of $77.92. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.58 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.61 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $0.33 EPS. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were 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 was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FTI. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Piper Sandler increased their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Susquehanna reduced their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.