Citizens Financial Group Inc. RI Takes $1.02 Million Position in TechnipFMC plc $FTI

Citizens Financial Group Inc. RI bought a new position in TechnipFMC plc (NYSE:FTI) during the second quarter, Holdings Channel reports. The firm bought 15,449 shares of the oil and gas company’s stock, valued at approximately $1,024,000.

A number of other hedge funds have also added to or reduced their stakes in FTI. V Square Quantitative Management LLC bought a new stake in TechnipFMC during the 1st quarter worth approximately $26,000. Ascentis Independent Advisors bought a new position in shares of TechnipFMC in the first quarter valued at approximately $37,000. First Pacific Financial purchased a new position in shares of TechnipFMC during the first quarter valued at approximately $52,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the third quarter valued at approximately $32,000. Finally, Summit Securities Group LLC bought a new stake in TechnipFMC during the first quarter worth $60,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In other news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Down 1.8%

FTI stock opened at $78.39 on Wednesday. The stock has a market cap of $30.74 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.62 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $70.72 and its two-hundred day simple moving average is $68.84. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $80.42.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm earned $0.68 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Analysts expect that TechnipFMC plc will post 3.08 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed 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 annualized dividend and a 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.