Stephens Inc. AR Purchases New Position in TechnipFMC plc (NYSE:FTI)

Stephens Inc. AR acquired a new position in TechnipFMC plc (NYSE:FTI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,104 shares of the oil and gas company’s stock, valued at approximately $408,000.

Several other hedge funds have also recently bought and sold shares of the business. Franklin Resources Inc. grew its position in shares of TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after purchasing an additional 679,748 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in TechnipFMC by 971.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company’s stock valued at $10,692,000 after purchasing an additional 369,594 shares during the last quarter. Park Avenue Securities LLC bought a new stake in TechnipFMC in the 4th quarter valued at $519,000. ING Groep NV increased its holdings in shares of TechnipFMC by 15.3% during the 3rd quarter. ING Groep NV now owns 865,294 shares of the oil and gas company’s stock worth $22,697,000 after purchasing an additional 114,600 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in TechnipFMC during the third quarter worth about $49,273,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTI has been the topic of several recent research reports. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Piper Sandler started coverage on TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price target for the company. Evercore ISI upped their price objective on TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and a consensus target price of $36.15.

TechnipFMC Trading Up 0.0 %

Shares of TechnipFMC stock opened at $30.30 on Friday. The stock has a market cap of $12.89 billion, a P/E ratio of 19.93 and a beta of 1.52. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12-month low of $19.23 and a 12-month high of $33.45. The business’s 50 day moving average is $30.74 and its 200-day moving average is $28.41.

TechnipFMC announced that its board has initiated a share repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.