Inceptionr LLC Invests $1.12 Million in TechnipFMC plc $FTI

Inceptionr LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,160 shares of the oil and gas company’s stock, valued at approximately $1,121,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FTI. Harbor Investment Advisory LLC purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC during the third quarter worth about $32,000. Geneos Wealth Management Inc. increased its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $41,000. Finally, Torren Management LLC purchased a new stake in shares of TechnipFMC during the fourth quarter worth about $45,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 2.5%

Shares of TechnipFMC stock opened at $70.13 on Thursday. 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 firm has a market cap of $27.96 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.47 and a beta of 0.69. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78. The business has a 50-day moving average price of $71.62 and a 200 day moving average price of $60.89.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. On average, sell-side analysts forecast that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Barclays lifted their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Citigroup boosted their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Susquehanna boosted their price objective on TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price of $69.71.

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.