Penserra Capital Management LLC acquired a new stake in TechnipFMC PLC (NYSE:FTI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,232 shares of the oil and gas company’s stock, valued at approximately $121,000.
Other large investors have also made changes to their positions in the company. Shine Investment Advisory Services Inc. lifted its stake in shares of TechnipFMC by 64.2% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 2,070 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 809 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of TechnipFMC by 1,834.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 926,996 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 879,078 shares during the period. First Mercantile Trust Co. lifted its stake in shares of TechnipFMC by 84.3% in the 4th quarter. First Mercantile Trust Co. now owns 7,008 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 3,206 shares during the period. Veritable L.P. acquired a new position in shares of TechnipFMC in the 3rd quarter valued at about $262,000. Finally, Virtu Financial LLC lifted its stake in shares of TechnipFMC by 25.6% in the 4th quarter. Virtu Financial LLC now owns 16,375 shares of the oil and gas company’s stock valued at $321,000 after purchasing an additional 3,339 shares during the period. 64.75% of the stock is currently owned by institutional investors.
Shares of TechnipFMC stock opened at $24.59 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a market capitalization of $11.17 billion, a P/E ratio of 19.06, a PEG ratio of 2.76 and a beta of 1.24. TechnipFMC PLC has a one year low of $18.20 and a one year high of $34.39.
TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.40 billion. TechnipFMC had a return on equity of 3.76% and a net margin of 1.42%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. Analysts expect that TechnipFMC PLC will post 1.24 EPS for the current fiscal year.
TechnipFMC announced that its Board of Directors has approved a share repurchase program on Wednesday, December 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on the company. TheStreet raised TechnipFMC from a “d” rating to a “c-” rating in a research note on Wednesday, February 6th. Exane BNP Paribas raised TechnipFMC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 22nd. BNP Paribas raised TechnipFMC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 22nd. Seaport Global Securities raised TechnipFMC from a “neutral” rating to a “buy” rating and boosted their target price for the company from $26.00 to $28.00 in a research report on Friday, December 14th. Finally, BMO Capital Markets raised TechnipFMC from a “market perform” rating to a “buy” rating and decreased their target price for the company from $29.00 to $28.00 in a research report on Thursday, December 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $35.15.
In related news, CEO Douglas J. Pferdehirt acquired 50,000 shares of the firm’s stock in a transaction on Monday, December 31st. The stock was purchased at an average cost of $19.20 per share, with a total value of $960,000.00. Following the acquisition, the chief executive officer now owns 525,802 shares of the company’s stock, valued at approximately $10,095,398.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.58% of the company’s stock.
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TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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