SIR Capital Management L.P. Trims Stock Holdings in TechnipFMC plc $FTI

SIR Capital Management L.P. trimmed its holdings in TechnipFMC plc (NYSE:FTI) by 26.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,300 shares of the oil and gas company’s stock after selling 24,218 shares during the period. SIR Capital Management L.P.’s holdings in TechnipFMC were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Harbor Investment Advisory LLC purchased a new position in TechnipFMC in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC in the 3rd quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in TechnipFMC in the 4th quarter valued at approximately $41,000. Torren Management LLC purchased a new position in TechnipFMC in the 4th quarter valued at approximately $45,000. Finally, Geneos Wealth Management Inc. grew 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 valued at $35,000 after buying an additional 340 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director directly owned 59,887 shares of the company’s stock, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Stock Performance

NYSE FTI opened at $70.70 on Friday. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The company has a market capitalization of $28.19 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.52 and a beta of 0.69. The company has a fifty day moving average of $71.67 and a 200-day moving average of $61.15.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s payout ratio is currently 7.63%.

Analyst Ratings Changes

A number of research analysts recently weighed in on FTI shares. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and lifted their price objective for the company from $49.00 to $62.00 in a research note on Friday, February 20th. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research note on Wednesday, June 3rd. BMO Capital Markets lifted their price objective on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. Evercore reiterated an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. Finally, TD Cowen restated a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.71.

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.