Eric Mullins Acquires 6,365 Shares of TechnipFMC (NYSE:FTI) Stock

TechnipFMC plc (NYSE:FTI) Director Eric Mullins bought 6,365 shares of the company’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

TechnipFMC Trading Down 1.8%

Shares of FTI stock traded down $1.42 during trading hours on Tuesday, reaching $78.39. 2,900,723 shares of the stock traded hands, compared to its average volume of 4,236,837. The business has a fifty day moving average price of $70.52 and a 200 day moving average price of $68.68. The firm has a market capitalization of $30.74 billion, a PE ratio of 27.22, a PEG ratio of 1.62 and a beta of 0.72. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $80.42. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. On average, equities research analysts forecast that TechnipFMC plc will post 3.06 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is presently 6.94%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in TechnipFMC in the first quarter valued at $26,000. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC during the 1st quarter valued at approximately $37,000. Keating Financial Advisory Services Inc. acquired a new position in TechnipFMC in the second quarter worth about $37,000. First Pacific Financial acquired a new position in shares of TechnipFMC in the 1st quarter valued at about $52,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC during the 3rd quarter worth approximately $32,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTI has been the subject of a number of analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Susquehanna decreased their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

About TechnipFMC

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.