MGO One Seven LLC Buys New Stake in TechnipFMC plc $FTI

MGO One Seven LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) during the third quarter, HoldingsChannel reports. The fund purchased 23,393 shares of the oil and gas company’s stock, valued at approximately $923,000.

Several other institutional investors have also bought and sold shares of the business. Focus Partners Wealth raised its position in shares of TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in TechnipFMC by 45.3% during the first 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. Sivia Capital Partners LLC increased its stake in TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after acquiring an additional 6,381 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in TechnipFMC by 35.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 119,170 shares of the oil and gas company’s stock valued at $4,159,000 after purchasing an additional 31,069 shares during the period. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of TechnipFMC in the 2nd quarter valued at approximately $254,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the topic of several analyst reports. Royal Bank Of Canada boosted their target price on TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Jefferies Financial Group boosted their price objective on shares of TechnipFMC from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Cowen restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, January 7th. BNP Paribas set a $47.00 price target on shares of TechnipFMC and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.46.

TechnipFMC Stock Down 0.3%

Shares of FTI opened at $52.17 on Friday. The firm has a fifty day moving average price of $45.92 and a 200-day moving average price of $40.28. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $21.10 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.02 and a beta of 0.66. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $52.76.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. TechnipFMC had a net margin of 9.67% and a return on equity of 30.23%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. Equities research analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 13.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Tuesday, November 18th were issued a $0.05 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. TechnipFMC’s payout ratio is presently 8.93%.

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.