Elevation Point Wealth Partners LLC Invests $541,000 in TechnipFMC plc $FTI

Elevation Point Wealth Partners LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,155 shares of the oil and gas company’s stock, valued at approximately $541,000.

Several other institutional investors have also added to or reduced their stakes in FTI. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC during the first quarter worth $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC in the third quarter valued at about $32,000. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Ascentis Independent Advisors bought a new position in TechnipFMC during the first quarter worth about $37,000. Finally, Keating Financial Advisory Services Inc. bought a new position in TechnipFMC during the second quarter worth about $37,000. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by company insiders.

TechnipFMC Stock Performance

Shares of NYSE:FTI opened at $75.26 on Wednesday. The company’s 50 day simple moving average is $71.45 and its 200 day simple moving average is $69.56. The stock has a market capitalization of $29.52 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.55.

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, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, research analysts predict that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on FTI. Royal Bank Of Canada boosted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Finally, Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

About TechnipFMC

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.