SCP Investment LP Has $561,000 Position in TechnipFMC plc (NYSE:FTI)

SCP Investment LP raised its stake in TechnipFMC plc (NYSE:FTI) by 166.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,800 shares of the oil and gas company’s stock after buying an additional 18,000 shares during the quarter. TechnipFMC accounts for about 0.5% of SCP Investment LP’s holdings, making the stock its 17th biggest position. SCP Investment LP’s holdings in TechnipFMC were worth $561,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust acquired a new position in shares of TechnipFMC in the third quarter worth $29,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of TechnipFMC during the 4th quarter valued at about $45,000. Systematic Alpha Investments LLC bought a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $146,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in TechnipFMC in the fourth quarter worth approximately $203,000. Finally, International Assets Investment Management LLC acquired a new stake in TechnipFMC in the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on FTI. Barclays increased their price target on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a research note on Friday, February 23rd. TD Cowen raised their price objective on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. Finally, Susquehanna lifted their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.21.

TechnipFMC Stock Performance

Shares of FTI stock traded up $0.23 during mid-day trading on Thursday, reaching $26.83. The stock had a trading volume of 2,567,147 shares, compared to its average volume of 4,579,859. The firm has a market cap of $11.56 billion, a PE ratio of 56.57 and a beta of 1.62. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. TechnipFMC plc has a one year low of $13.11 and a one year high of $27.30. The firm’s 50 day simple moving average is $25.02 and its 200 day simple moving average is $21.87.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that TechnipFMC plc will post 1.16 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a $0.05 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. TechnipFMC’s payout ratio is presently 42.55%.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is owned by corporate insiders.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.