Sierra Summit Advisors LLC Buys New Position in TechnipFMC plc $FTI

Sierra Summit Advisors LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,639 shares of the oil and gas company’s stock, valued at approximately $972,000.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in shares of TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after buying an additional 7,038,640 shares during the period. Norges Bank purchased a new position in TechnipFMC in the second quarter worth approximately $151,413,000. Pacer Advisors Inc. lifted its stake in TechnipFMC by 91.5% in the third quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock worth $151,382,000 after acquiring an additional 1,833,601 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in TechnipFMC by 80.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after acquiring an additional 1,415,621 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of TechnipFMC by 61.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,399,955 shares of the oil and gas company’s stock valued at $117,094,000 after purchasing an additional 1,296,358 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Susquehanna increased their price target on shares of TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a research note on Friday, February 20th. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and raised their price objective for the stock from $49.00 to $62.00 in a report on Friday, February 20th. Finally, Jefferies Financial Group upped their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.93.

TechnipFMC Stock Down 1.5%

Shares of NYSE:FTI opened at $66.26 on Friday. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $67.55. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $54.51 and its 200-day simple moving average is $45.38. The company has a market cap of $26.51 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 1.27 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 8.66%.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 6,350 shares of TechnipFMC stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the sale, the director directly owned 97,860 shares in the company, valued at $6,400,044. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

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.