Aventail Capital Group LP Makes New $3.95 Million Investment in TechnipFMC plc $FTI

Aventail Capital Group LP acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, Holdings Channel reports. The firm acquired 88,609 shares of the oil and gas company’s stock, valued at approximately $3,948,000.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after buying an additional 3,549,839 shares during the period. State Street Corp increased its position in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares during the period. Boston Partners increased its position in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after buying an additional 192,549 shares during the period. Geode Capital Management LLC increased its position in TechnipFMC by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock worth $337,714,000 after buying an additional 193,244 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in TechnipFMC by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,944,048 shares of the oil and gas company’s stock worth $220,328,000 after buying an additional 180,418 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI opened at $67.24 on Thursday. The firm has a market cap of $26.81 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. 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 business’s fifty day moving average is $71.44 and its 200-day moving average is $61.74.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company earned $0.33 EPS. TechnipFMC’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts expect that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

Analyst Upgrades and Downgrades

FTI has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Citigroup increased their price objective on TechnipFMC from $48.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. BMO Capital Markets increased their price objective on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Finally, HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and increased their target price for the stock from $49.00 to $62.00 in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.71.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director directly owned 59,887 shares in the company, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

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.