Graham Capital Management L.P. Lowers Stake in TechnipFMC plc (NYSE:FTI)

Graham Capital Management L.P. decreased its position in TechnipFMC plc (NYSE:FTI) by 51.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,494 shares of the oil and gas company’s stock after selling 169,487 shares during the quarter. Graham Capital Management L.P.’s holdings in TechnipFMC were worth $4,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in shares of TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 525 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in TechnipFMC in the 4th quarter valued at about $45,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in TechnipFMC during the fourth quarter worth about $46,000. EverSource Wealth Advisors LLC lifted its position in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,338 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.7 %

Shares of TechnipFMC stock opened at $29.90 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $27.60 and a 200-day simple moving average of $29.07. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 19.67 and a beta of 0.98. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $33.45.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company earned $0.22 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is 10.53%.

Insider Activity

In other news, EVP Justin Rounce sold 42,178 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FTI shares. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Susquehanna lowered their target price on TechnipFMC from $41.00 to $35.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Piper Sandler increased their price target on TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Barclays boosted their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.83.

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.