186,992 Shares in TechnipFMC plc $FTI Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp bought a new stake in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 186,992 shares of the oil and gas company’s stock, valued at approximately $12,397,000. TechnipFMC accounts for 2.6% of Chase Investment Counsel Corp’s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of FTI. Focus Partners Advisor Solutions LLC purchased a new position in TechnipFMC in the 2nd quarter valued at approximately $3,470,000. Asset Management One Co. Ltd. acquired a new stake in shares of TechnipFMC in the fourth quarter valued at $833,000. Fisher Asset Management LLC boosted its holdings in TechnipFMC by 7.1% in the fourth quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock valued at $18,200,000 after purchasing an additional 27,111 shares during the period. BankChampaign National Association purchased a new position in TechnipFMC in the first quarter valued at $1,157,000. Finally, HighTower Advisors LLC grew its stake in TechnipFMC by 54.7% during the 4th quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company’s stock worth $2,087,000 after purchasing an additional 16,562 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 0.0%

FTI stock opened at $78.63 on Monday. The stock has a market cap of $30.84 billion, a P/E ratio of 27.30, a PEG 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. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $79.23. The company’s 50 day moving average is $70.30 and its two-hundred day moving average is $68.51.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. Research analysts expect that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is currently 6.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup boosted their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Royal Bank Of Canada upped 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. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday. Finally, Susquehanna decreased their price target on shares of 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 issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $69.64.

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.