State of Wyoming bought a new stake in shares of TechnipFMC plc (NYSE:FTI – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,562 shares of the oil and gas company’s stock, valued at approximately $700,000.
Several other institutional investors also recently added to or reduced their stakes in FTI. Oppenheimer Asset Management Inc. bought a new position in shares of TechnipFMC during the 2nd quarter worth $8,407,000. Hardy Reed LLC purchased a new position in shares of TechnipFMC during the second quarter valued at $1,315,000. Dockside LLC bought a new stake in shares of TechnipFMC in the second quarter valued at about $6,164,000. Assenagon Asset Management S.A. bought a new stake in shares of TechnipFMC in the second quarter valued at about $1,327,000. Finally, GAMMA Investing LLC lifted its stake in TechnipFMC by 11.0% in the second quarter. GAMMA Investing LLC now owns 10,016 shares of the oil and gas company’s stock worth $664,000 after acquiring an additional 994 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.
TechnipFMC Price Performance
FTI opened at $78.63 on Monday. The firm has a market capitalization of $30.84 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.62 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’s 50-day moving average is $70.30 and its two-hundred day moving average is $68.51. TechnipFMC plc has a 1 year low of $34.27 and a 1 year high of $79.23.
TechnipFMC Dividend Announcement
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 given 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 yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 6.94%.
Analyst Upgrades and Downgrades
A number of research firms have commented on FTI. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday. Citigroup increased their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Royal Bank Of Canada lifted 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. Finally, Susquehanna reduced their price objective 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 equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.64.
Check Out Our Latest Report on TechnipFMC
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.
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