Oak Thistle LLC Lowers Holdings in TechnipFMC plc (NYSE:FTI)

Oak Thistle LLC reduced its position in TechnipFMC plc (NYSE:FTI) by 75.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,284 shares of the oil and gas company’s stock after selling 41,184 shares during the quarter. Oak Thistle LLC’s holdings in TechnipFMC were worth $334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Inceptionr LLC raised its stake in TechnipFMC by 2.2% in the fourth quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after buying an additional 540 shares in the last quarter. Fulton Bank N.A. grew its position in shares of TechnipFMC by 6.8% in the 4th quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock worth $217,000 after buying an additional 683 shares during the last quarter. Dfpg Investments LLC boosted its stake in TechnipFMC by 2.4% in the fourth quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock valued at $623,000 after acquiring an additional 738 shares in the last quarter. Quarry LP increased its position in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares in the last quarter. Finally, Janney Capital Management LLC grew its stake in TechnipFMC by 3.1% during the 4th quarter. Janney Capital Management LLC now owns 27,688 shares of the oil and gas company’s stock worth $558,000 after buying an additional 839 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on FTI shares. Piper Sandler upped their price target on shares of TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of TechnipFMC in a research note on Friday, April 26th. Barclays increased their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 29th. TD Cowen lifted their price target on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.21.

Insider Buying and Selling at TechnipFMC

In related news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by company insiders.

TechnipFMC Price Performance

FTI opened at $26.26 on Tuesday. TechnipFMC plc has a twelve month low of $16.04 and a twelve month high of $27.30. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 55.86 and a beta of 1.52. The company has a fifty day simple moving average of $25.69 and a 200 day simple moving average of $23.17.

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

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

TechnipFMC Company 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.