RFG Advisory LLC trimmed its position in TechnipFMC plc (NYSE:FTI – Free Report) by 46.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,953 shares of the oil and gas company’s stock after selling 13,069 shares during the period. RFG Advisory LLC’s holdings in TechnipFMC were worth $1,034,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in shares of TechnipFMC in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC during the third quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC during the fourth quarter worth about $41,000. Torren Management LLC bought a new position in TechnipFMC in the 4th quarter worth about $45,000. Finally, Geneos Wealth Management Inc. increased 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 acquiring an additional 340 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.
TechnipFMC Price Performance
Shares of TechnipFMC stock opened at $64.44 on Monday. The firm has a market capitalization of $25.69 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78. The business’s 50-day moving average price is $70.39 and its 200-day moving average price is $62.71.
TechnipFMC Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s payout ratio is presently 7.63%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on FTI. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Piper Sandler upped their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Barclays boosted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.00.
Check Out Our Latest Stock Report on FTI
TechnipFMC 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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