Hsbc Holdings PLC Sells 15,930 Shares of TechnipFMC plc $FTI

Hsbc Holdings PLC trimmed its position in TechnipFMC plc (NYSE:FTI) by 44.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,961 shares of the oil and gas company’s stock after selling 15,930 shares during the period. Hsbc Holdings PLC’s holdings in TechnipFMC were worth $1,380,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of TechnipFMC in the 1st quarter worth approximately $60,000. Kestra Advisory Services LLC grew its position in TechnipFMC by 5.5% during the first quarter. Kestra Advisory Services LLC now owns 11,980 shares of the oil and gas company’s stock valued at $828,000 after buying an additional 627 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in TechnipFMC by 3.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 82,973 shares of the oil and gas company’s stock valued at $5,736,000 after buying an additional 2,610 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in TechnipFMC by 7.5% during the first quarter. Axxcess Wealth Management LLC now owns 8,649 shares of the oil and gas company’s stock valued at $598,000 after buying an additional 605 shares during the last quarter. Finally, Childress Capital Advisors LLC raised its position in TechnipFMC by 14.0% in the first quarter. Childress Capital Advisors LLC now owns 6,554 shares of the oil and gas company’s stock worth $453,000 after acquiring an additional 805 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FTI shares. Susquehanna dropped their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Piper Sandler raised their target price on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Weiss Ratings raised TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Stock Performance

FTI opened at $74.95 on Tuesday. The firm has a market cap of $29.88 billion, a P/E ratio of 28.61, a PEG ratio of 1.61 and a beta of 0.70. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $77.92. The company has a 50 day simple moving average of $69.56 and a two-hundred day simple moving average of $66.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

About TechnipFMC

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.