10,562 Shares in TechnipFMC plc $FTI Bought by State of Wyoming

State of Wyoming bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 10,562 shares of the oil and gas company’s stock, valued at approximately $700,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of TechnipFMC during the first quarter worth about $26,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC in the 3rd quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its position 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 purchasing an additional 340 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in TechnipFMC in the 1st quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC during the 4th quarter worth approximately $41,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Royal Bank Of Canada raised their target price on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $78.63 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 12 month low of $34.27 and a 12 month high of $79.23. The company has a 50 day simple moving average of $70.30 and a two-hundred day simple moving average of $68.51. The stock has a market cap of $30.84 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.62 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.67 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, analysts predict that TechnipFMC plc will post 3.06 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a $0.05 dividend. 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 is presently 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.