TechnipFMC plc (NYSE:FTI) Shares Sold by Webs Creek Capital Management LP

Webs Creek Capital Management LP reduced its holdings in shares of TechnipFMC plc (NYSE:FTI) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 954,756 shares of the oil and gas company’s stock after selling 319,034 shares during the period. TechnipFMC comprises about 9.7% of Webs Creek Capital Management LP’s investment portfolio, making the stock its 5th biggest position. Webs Creek Capital Management LP owned 0.22% of TechnipFMC worth $23,974,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FTI. Yaupon Capital Management LP boosted its stake in TechnipFMC by 4,931.0% in the 1st quarter. Yaupon Capital Management LP now owns 805,305 shares of the oil and gas company’s stock valued at $20,221,000 after buying an additional 789,298 shares in the last quarter. First Western Trust Bank acquired a new stake in shares of TechnipFMC in the 1st quarter valued at $207,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of TechnipFMC by 11.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 913,925 shares of the oil and gas company’s stock worth $22,949,000 after purchasing an additional 90,971 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of TechnipFMC during the 1st quarter worth about $1,421,000. Finally, Transcendent Capital Group LLC bought a new position in TechnipFMC during the 1st quarter valued at about $1,837,000. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen increased their target price on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Piper Sandler increased their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Bank of America boosted their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Finally, Barclays boosted their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $28.62.

Insider Activity

In other TechnipFMC news, CAO David Light sold 5,928 shares of the stock in a transaction dated 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 in the company, valued at $297,692.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is owned by company insiders.

TechnipFMC Trading Down 2.4 %

Shares of TechnipFMC stock traded down $0.71 during trading on Thursday, reaching $28.79. 3,239,239 shares of the company were exchanged, compared to its average volume of 4,208,049. The business has a 50-day moving average price of $26.28 and a 200-day moving average price of $24.36. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 61.26 and a beta of 1.52. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. TechnipFMC plc has a twelve month low of $17.51 and a twelve month high of $29.85.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Sell-side analysts anticipate that TechnipFMC plc will post 1.21 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

TechnipFMC Profile

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.