Saudi Central Bank Purchases New Holdings in TechnipFMC plc $FTI

Saudi Central Bank purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 27,997 shares of the oil and gas company’s stock, valued at approximately $1,856,000.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of TechnipFMC during the 1st quarter worth $26,000. Newbridge Financial Services Group Inc. bought a new position in TechnipFMC during the third quarter valued at about $32,000. Coppell Advisory Solutions LLC purchased a new stake in TechnipFMC during the second quarter worth about $35,000. Geneos Wealth Management Inc. increased its holdings in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new stake in TechnipFMC in the first quarter worth about $37,000. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric Mullins purchased 6,365 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the acquisition, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FTI. Wall Street Zen cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, August 27th. Susquehanna dropped their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, UBS Group set a $80.00 target price on TechnipFMC in a research report on Wednesday, June 3rd. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Stock Down 0.2%

Shares of NYSE:FTI opened at $79.66 on Tuesday. The firm has a fifty day moving average price of $73.69 and a two-hundred day moving average price of $70.69. The company has a market cap of $31.24 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.70.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts anticipate that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

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.