TechnipFMC PLC (FTI) Shares Sold by OppenheimerFunds Inc.
OppenheimerFunds Inc. lessened its stake in TechnipFMC PLC (NYSE:FTI) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,916 shares of the oil and gas company’s stock after selling 6,035 shares during the quarter. OppenheimerFunds Inc.’s holdings in TechnipFMC were worth $1,267,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinebridge Investments L.P. boosted its holdings in shares of TechnipFMC by 270.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,775 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 2,755 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in shares of TechnipFMC by 315.2% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 5,298 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 4,022 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of TechnipFMC in the 1st quarter valued at $206,000. Dai Ichi Life Insurance Company Ltd acquired a new position in shares of TechnipFMC in the 2nd quarter valued at $210,000. Finally, Suntrust Banks Inc. acquired a new position in shares of TechnipFMC in the 1st quarter valued at $213,000. Institutional investors own 64.61% of the company’s stock.
A number of equities analysts have recently commented on FTI shares. Jefferies Financial Group raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, August 16th. Barclays raised their target price on shares of TechnipFMC from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, August 2nd. BMO Capital Markets raised their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Citigroup downgraded shares of TechnipFMC from a “buy” rating to a “neutral” rating in a research note on Monday, July 2nd. Finally, Credit Suisse Group started coverage on shares of TechnipFMC in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $38.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $36.40.
TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.11). TechnipFMC had a return on equity of 4.02% and a net margin of 1.21%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the firm earned $0.39 EPS. The business’s quarterly revenue was down 23.0% on a year-over-year basis. equities analysts expect that TechnipFMC PLC will post 1.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Investors of record on Tuesday, August 21st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is 20.16%.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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