TechnipFMC (NYSE:FTI) CFO Sells $5,176,469.43 in Stock

TechnipFMC plc (NYSE:FTI) CFO Alf Melin sold 83,721 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $61.83, for a total value of $5,176,469.43. Following the completion of the sale, the chief financial officer owned 282,537 shares in the company, valued at approximately $17,469,262.71. This trade represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Alf Melin also recently made the following trade(s):

• On Tuesday, March 10th, Alf Melin sold 43,554 shares of TechnipFMC stock. The stock was sold at an average price of $63.13, for a total value of $2,749,564.02.

TechnipFMC Stock Up 0.8%

Shares of TechnipFMC stock opened at $63.01 on Friday. The firm has a market cap of $25.21 billion, a PE ratio of 27.28, a P/E/G ratio of 1.15 and a beta of 0.70. The business’s 50 day simple moving average is $58.39 and its 200 day simple moving average is $47.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $68.29.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 8.66%.

Institutional Trading of TechnipFMC

A number of large investors have recently added to or reduced their stakes in the company. Focus Partners Wealth grew its position in shares of TechnipFMC by 27.2% in the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after acquiring an additional 5,161 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of 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 valued at $35,000 after purchasing an additional 340 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of TechnipFMC by 76.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after purchasing an additional 6,381 shares during the period. Bank of Montreal Can lifted its stake in TechnipFMC by 10.4% in the 2nd quarter. Bank of Montreal Can now owns 27,126 shares of the oil and gas company’s stock valued at $934,000 after purchasing an additional 2,557 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in TechnipFMC by 20.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,756,592 shares of the oil and gas company’s stock valued at $60,497,000 after purchasing an additional 293,668 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on FTI shares. Susquehanna boosted their price target on shares of TechnipFMC from $56.00 to $71.00 and gave the stock a “positive” rating in a research report on Friday, February 20th. Citigroup raised their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Barclays reiterated an “overweight” rating and set a $69.00 target price on shares of TechnipFMC in a report on Friday, February 20th. Finally, TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.47.

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.