Oppenheimer Asset Management Inc. acquired a new position in TechnipFMC plc (NYSE:FTI – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 126,799 shares of the oil and gas company’s stock, valued at approximately $8,407,000.
A number of other hedge funds also recently bought and sold shares of FTI. Hardy Reed LLC purchased a new position in shares of TechnipFMC in the 2nd quarter valued at $1,315,000. Dockside LLC purchased a new stake in shares of TechnipFMC during the 2nd quarter worth $6,164,000. Assenagon Asset Management S.A. purchased a new stake in shares of TechnipFMC during the 2nd quarter worth $1,327,000. GAMMA Investing LLC boosted its position in TechnipFMC by 11.0% during the second quarter. GAMMA Investing LLC now owns 10,016 shares of the oil and gas company’s stock valued at $664,000 after purchasing an additional 994 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in TechnipFMC by 88.3% during the second quarter. CoreCap Advisors LLC now owns 7,217 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 3,384 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.
TechnipFMC Stock Performance
Shares of FTI stock opened at $78.63 on Friday. The firm has a market capitalization of $30.84 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 1.58 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. The business has a fifty day moving average of $70.30 and a 200 day moving average of $68.41. TechnipFMC plc has a 1 year low of $34.27 and a 1 year high of $79.23.
TechnipFMC Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is 6.94%.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Susquehanna cut their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Evercore reissued an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.
Check Out Our Latest Research Report on TechnipFMC
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.
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