Merit Financial Group LLC Buys Shares of 14,161 TechnipFMC plc (NYSE:FTI)

Merit Financial Group LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 14,161 shares of the oil and gas company’s stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC grew its position in shares of TechnipFMC by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock valued at $702,000 after purchasing an additional 616 shares during the last quarter. Hsbc Holdings PLC lifted its stake in TechnipFMC by 15.8% during the second quarter. Hsbc Holdings PLC now owns 106,763 shares of the oil and gas company’s stock worth $2,771,000 after purchasing an additional 14,603 shares during the last quarter. Intech Investment Management LLC bought a new position in TechnipFMC in the second quarter valued at about $518,000. Benjamin F. Edwards & Company Inc. increased its position in TechnipFMC by 20.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,282 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 733 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of TechnipFMC by 82.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 99,400 shares of the oil and gas company’s stock valued at $2,599,000 after acquiring an additional 45,000 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FTI has been the subject of several analyst reports. TD Cowen reaffirmed a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Bank of America raised their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 14th. BMO Capital Markets upped their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, October 10th. Evercore ISI lifted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Stock Performance

TechnipFMC stock opened at $31.69 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 1-year low of $18.53 and a 1-year high of $33.45. The firm has a market capitalization of $13.48 billion, a PE ratio of 20.85 and a beta of 1.54. The firm’s 50 day simple moving average is $30.64 and its 200 day simple moving average is $28.06.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $0.21 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, analysts expect that TechnipFMC plc will post 1.62 earnings per share for the current fiscal year.

TechnipFMC declared that its board has approved a stock repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.