Pallas Capital Advisors LLC Makes New $3.25 Million Investment in TechnipFMC plc $FTI

Pallas Capital Advisors LLC purchased a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,009 shares of the oil and gas company’s stock, valued at approximately $3,249,000.

Several other hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of TechnipFMC during the 1st quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC in the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. boosted its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the period. Ascentis Independent Advisors purchased a new position in TechnipFMC during the 1st quarter valued at about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC during the 4th quarter valued at about $41,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Up 1.7%

Shares of NYSE FTI opened at $79.95 on Tuesday. 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 business has a 50-day moving average of $70.52 and a 200-day moving average of $68.68. The firm has a market capitalization of $31.35 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.62 and a beta of 0.72. TechnipFMC plc has a 12 month low of $34.27 and a 12 month high of $80.42.

TechnipFMC (NYSE:FTI) last announced 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. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. TechnipFMC’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. Sell-side analysts expect that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.