TechnipFMC plc (NYSE:FTI) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its position in shares of TechnipFMC plc (NYSE:FTI) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 172,741 shares of the oil and gas company’s stock after purchasing an additional 4,467 shares during the quarter. Zions Bancorporation N.A.’s holdings in TechnipFMC were worth $4,531,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Oak Thistle LLC grew its holdings in shares of TechnipFMC by 3.2% in the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock worth $358,000 after acquiring an additional 421 shares during the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of TechnipFMC by 5.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock worth $246,000 after acquiring an additional 433 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 during the last quarter. Ballentine Partners LLC grew its holdings in shares of TechnipFMC by 4.8% in the 3rd quarter. Ballentine Partners LLC now owns 11,223 shares of the oil and gas company’s stock worth $294,000 after acquiring an additional 515 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock worth $455,000 after acquiring an additional 546 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Down 3.1 %

TechnipFMC stock opened at $28.24 on Thursday. The business has a 50 day moving average price of $26.39 and a two-hundred day moving average price of $26.33. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 18.58 and a beta of 1.51. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $29.85.

TechnipFMC (NYSE:FTI) last posted its quarterly 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. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. As a group, equities analysts forecast that TechnipFMC plc will post 1.47 EPS for the current year.

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

TechnipFMC Dividend Announcement

The business 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. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. TechnipFMC’s payout ratio is presently 13.16%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America lifted their target price on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. TD Cowen raised their target price on TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Barclays lifted their price objective on TechnipFMC from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, BMO Capital Markets upped their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.30.

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.