Point72 Hong Kong Ltd Sells 16,157 Shares of TechnipFMC plc (NYSE:FTI)

Point72 Hong Kong Ltd decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 28.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,458 shares of the oil and gas company’s stock after selling 16,157 shares during the quarter. Point72 Hong Kong Ltd’s holdings in TechnipFMC were worth $1,087,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after buying an additional 735 shares during the last quarter. GAMMA Investing LLC raised its position in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 492 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of TechnipFMC in the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new stake in shares of TechnipFMC during the 2nd quarter valued at about $33,000. Finally, Crewe Advisors LLC acquired a new stake in TechnipFMC during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on FTI. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. TD Cowen restated a “buy” rating and issued a $37.00 price target on shares of TechnipFMC in a report on Wednesday, November 27th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Finally, Barclays upped their price target on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $33.91.

TechnipFMC Trading Up 1.2 %

Shares of TechnipFMC stock opened at $31.37 on Monday. The company has a market capitalization of $13.35 billion, a P/E ratio of 20.64 and a beta of 1.51. The stock has a fifty day simple moving average of $27.61 and a 200 day simple moving average of $26.63. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $31.53. 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 (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

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

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.