GeoSphere Capital Management LLC bought a new stake in shares of TechnipFMC PLC (NYSE:FTI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 35,960 shares of the oil and gas company’s stock, valued at approximately $933,000. TechnipFMC makes up about 3.0% of GeoSphere Capital Management LLC’s portfolio, making the stock its 4th largest position.
Several other institutional investors have also made changes to their positions in FTI. Icon Wealth Partners LLC acquired a new position in TechnipFMC in the first quarter worth about $28,000. Meeder Asset Management Inc. grew its stake in TechnipFMC by 217.7% in the second quarter. Meeder Asset Management Inc. now owns 1,344 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 921 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in TechnipFMC in the first quarter worth about $37,000. Mizuho Securities Co. Ltd. acquired a new position in TechnipFMC in the second quarter valued at approximately $39,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in TechnipFMC in the second quarter valued at approximately $66,000. Institutional investors own 76.12% of the company’s stock.
FTI has been the subject of a number of research reports. Berenberg Bank restated a “buy” rating and issued a $26.00 target price on shares of TechnipFMC in a research note on Tuesday, August 27th. Citigroup lifted their price target on TechnipFMC from $27.40 to $29.50 and gave the company a “neutral” rating in a report on Tuesday, July 30th. AltaCorp Capital reaffirmed an “outperform” rating on shares of TechnipFMC in a report on Thursday, June 20th. BMO Capital Markets set a $32.00 price target on TechnipFMC and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Cowen reissued a “buy” rating and set a $28.00 target price on shares of TechnipFMC in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.50.
Shares of TechnipFMC stock traded down $0.05 on Friday, hitting $25.08. 24,617 shares of the company traded hands, compared to its average volume of 3,826,235. The company has a 50-day moving average price of $25.10 and a 200 day moving average price of $23.97. The company has a quick ratio of 1.04, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. TechnipFMC PLC has a 12-month low of $18.20 and a 12-month high of $32.91. The company has a market cap of $11.52 billion, a PE ratio of 30.60, a PEG ratio of 1.29 and a beta of 1.50.
TechnipFMC (NYSE:FTI) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.27 billion. TechnipFMC had a negative net margin of 15.64% and a positive return on equity of 2.76%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Equities research analysts anticipate that TechnipFMC PLC will post 1.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%.
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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