Machina Capital S.A.S. Decreases Stock Position in TechnipFMC plc $FTI

Machina Capital S.A.S. lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 50.8% in the third quarter, HoldingsChannel.com reports. The firm owned 11,567 shares of the oil and gas company’s stock after selling 11,928 shares during the quarter. Machina Capital S.A.S.’s holdings in TechnipFMC were worth $456,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 657 shares during the period. Geneos Wealth Management Inc. increased its position in 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 valued at $35,000 after purchasing an additional 340 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in TechnipFMC during the 2nd quarter valued at $44,000. McIlrath & Eck LLC raised its holdings in TechnipFMC by 476.3% in the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,024 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of TechnipFMC in the 3rd quarter worth about $51,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on FTI shares. Susquehanna raised their price objective on shares of TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. TD Cowen restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, January 7th. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Piper Sandler increased their price objective on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada boosted their target price on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

TechnipFMC Stock Performance

FTI stock opened at $56.14 on Friday. The stock’s 50 day simple moving average is $49.01 and its 200 day simple moving average is $42.28. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $57.64. The stock has a market capitalization of $22.71 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69.

TechnipFMC announced that its board has approved a share repurchase plan on Wednesday, October 22nd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

About TechnipFMC

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.