SCP Investment LP Purchases 5,200 Shares of TechnipFMC plc (NYSE:FTI)

SCP Investment LP raised its position in shares of TechnipFMC plc (NYSE:FTI) by 29.5% in the first quarter, HoldingsChannel reports. The firm owned 22,800 shares of the oil and gas company’s stock after buying an additional 5,200 shares during the quarter. TechnipFMC makes up 0.1% of SCP Investment LP’s investment portfolio, making the stock its 23rd largest position. SCP Investment LP’s holdings in TechnipFMC were worth $176,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FTI. Captrust Financial Advisors grew its stake in shares of TechnipFMC by 521.5% during the 4th quarter. Captrust Financial Advisors now owns 3,505 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 2,941 shares during the period. Federated Hermes Inc. grew its stake in shares of TechnipFMC by 65.8% during the 4th quarter. Federated Hermes Inc. now owns 6,579 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,612 shares during the period. Vantage Consulting Group Inc bought a new stake in shares of TechnipFMC during the 4th quarter valued at about $75,000. Poehling Capital Management LLC bought a new stake in shares of TechnipFMC during the 1st quarter valued at about $77,000. Finally, Mraz Amerine & Associates Inc. bought a new stake in shares of TechnipFMC during the 1st quarter valued at about $80,000. Institutional investors and hedge funds own 74.93% of the company’s stock.

A number of research analysts have recently weighed in on FTI shares. AlphaValue cut TechnipFMC from a “buy” rating to a “reduce” rating in a research report on Monday, March 29th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reaffirmed a “neutral” rating on shares of TechnipFMC in a research report on Wednesday, March 24th. Berenberg Bank reaffirmed a “hold” rating on shares of TechnipFMC in a research report on Monday, March 8th. Exane BNP Paribas started coverage on TechnipFMC in a research report on Tuesday, March 2nd. They set a “neutral” rating on the stock. Finally, Morgan Stanley lowered their price target on TechnipFMC from $8.80 to $8.50 and set an “equal weight” rating on the stock in a report on Friday, April 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. TechnipFMC currently has a consensus rating of “Hold” and a consensus price target of $10.17.

Shares of FTI traded up $0.13 during mid-day trading on Friday, hitting $10.23. 56,007 shares of the stock were exchanged, compared to its average volume of 9,767,549. The stock has a market cap of $4.61 billion, a P/E ratio of 13.85 and a beta of 2.25. TechnipFMC plc has a 52-week low of $5.11 and a 52-week high of $13.04. The stock has a 50-day simple moving average of $8.18. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.66.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Tuesday, April 27th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.07. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.49 billion. TechnipFMC had a return on equity of 3.02% and a net margin of 2.91%. On average, analysts predict that TechnipFMC plc will post -0.09 EPS for the current fiscal year.

About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through two segments, Subsea and Surface Technologies. The Subsea segment designs and manufactures products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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