Commerce Bank Takes $644,000 Position in TechnipFMC plc $FTI

Commerce Bank purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,711 shares of the oil and gas company’s stock, valued at approximately $644,000.

A number of other hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in TechnipFMC in the first quarter worth $26,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. raised its stake in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the period. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC during the 1st quarter worth $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC in the 2nd quarter worth about $37,000. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

TechnipFMC Stock Performance

TechnipFMC stock opened at $75.71 on Thursday. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $29.69 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72. The firm’s 50 day simple moving average is $71.62 and its 200 day simple moving average is $69.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. As a group, analysts expect that TechnipFMC plc will post 3.09 earnings per share for the current fiscal 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 given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. 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 report on Wednesday, July 8th. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Barclays raised their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating and issued a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Company 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.