47,237 Shares in TechnipFMC plc (NYSE:FTI) Purchased by Oak Harvest Investment Services

Oak Harvest Investment Services bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 47,237 shares of the oil and gas company’s stock, valued at approximately $1,186,000.

A number of other large investors also recently made changes to their positions in FTI. Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after buying an additional 126,247 shares during the period. American Century Companies Inc. grew its stake in TechnipFMC by 161.9% in the third quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after purchasing an additional 3,283,972 shares in the last quarter. Goldman Sachs Group Inc. increased its position in TechnipFMC by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock worth $70,864,000 after purchasing an additional 85,451 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of TechnipFMC by 868.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after purchasing an additional 2,808,618 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of TechnipFMC during the 4th quarter worth about $61,570,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of a number of recent research reports. Barclays raised their price target on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. TD Cowen increased their price objective on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, April 26th. Bank of America increased their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Finally, Susquehanna raised their target price on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus price target of $27.21.

Insider Buying and Selling at TechnipFMC

In other news, CAO David Light sold 5,928 shares of TechnipFMC stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.93% of the company’s stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock traded up $0.08 during midday trading on Thursday, hitting $26.27. 1,129,351 shares of the company were exchanged, compared to its average volume of 3,273,019. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The firm has a market cap of $11.32 billion, a P/E ratio of 55.87 and a beta of 1.52. TechnipFMC plc has a 52 week low of $16.04 and a 52 week high of $27.30. The firm has a 50 day simple moving average of $25.70 and a 200-day simple moving average of $23.23.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The company’s revenue was up 18.9% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were given a $0.05 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.76%. TechnipFMC’s payout ratio is 42.55%.

About TechnipFMC

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.