Denali Advisors LLC Purchases 13,292 Shares of TechnipFMC plc $FTI

Denali Advisors LLC grew its position in TechnipFMC plc (NYSE:FTI) by 39.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,564 shares of the oil and gas company’s stock after purchasing an additional 13,292 shares during the period. Denali Advisors LLC’s holdings in TechnipFMC were worth $3,087,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in TechnipFMC during the second quarter worth about $3,081,514,000. State Street Corp grew its position in TechnipFMC by 62.2% in 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 purchasing an additional 4,938,498 shares in the last quarter. Norges Bank purchased a new stake in TechnipFMC in the 4th quarter valued at about $205,468,000. Invesco Ltd. lifted its position in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after buying an additional 4,437,960 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of 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 in the last quarter. 96.58% of the stock is owned by institutional investors.

Insider Transactions at TechnipFMC

In other news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FTI shares. Royal Bank Of Canada upped their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Citigroup lifted their price target on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Susquehanna reduced their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Barclays raised their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Down 1.6%

TechnipFMC stock opened at $77.07 on Thursday. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $80.55. The firm has a 50 day moving average price of $70.86 and a 200-day moving average price of $68.99. The company has a market capitalization of $30.23 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.61 and a beta of 0.72. 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, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. TechnipFMC’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. As a group, equities analysts predict that TechnipFMC plc will post 3.08 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.

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.