Entropy Technologies LP Sells 29,807 Shares of TechnipFMC plc $FTI

Entropy Technologies LP cut its holdings in TechnipFMC plc (NYSE:FTI) by 76.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,385 shares of the oil and gas company’s stock after selling 29,807 shares during the quarter. Entropy Technologies LP’s holdings in TechnipFMC were worth $649,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FTI. V Square Quantitative Management LLC acquired a new position in shares of TechnipFMC in the first quarter valued at approximately $26,000. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC during the first quarter worth $37,000. First Pacific Financial bought a new stake in TechnipFMC in the 1st quarter valued at $52,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC in the 3rd quarter valued at $32,000. Finally, Summit Securities Group LLC acquired a new position in TechnipFMC in the 1st quarter worth $60,000. 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 research reports. Citigroup increased their target price on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 14th. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Barclays increased their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Stock Performance

Shares of FTI opened at $71.77 on Thursday. The stock has a market capitalization of $28.61 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.52 and a beta of 0.70. TechnipFMC plc has a 12 month low of $34.27 and a 12 month high of $77.92. The firm has a fifty day simple moving average of $69.52 and a 200 day simple moving average of $66.82. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the business earned $0.33 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Research analysts forecast that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

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.