Oppenheimer Asset Management Inc. Invests $8.41 Million in TechnipFMC plc $FTI

Oppenheimer Asset Management Inc. bought a new position in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 126,799 shares of the oil and gas company’s stock, valued at approximately $8,407,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the 1st quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% in 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 buying an additional 340 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of TechnipFMC in the first quarter worth about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC in the fourth quarter worth about $41,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Up 2.6%

Shares of FTI stock opened at $78.63 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The company has a market cap of $30.84 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.58 and a beta of 0.72. The stock has a 50 day simple moving average of $70.30 and a 200-day simple moving average of $68.41. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $79.23.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, equities research analysts expect that TechnipFMC plc will post 3.06 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore reiterated an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research note on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC 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.