47,237 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Oak Harvest Investment Services

Oak Harvest Investment Services bought a new position in shares of TechnipFMC plc (NYSE:FTI) in the 1st quarter, Holdings Channel reports. The institutional investor bought 47,237 shares of the oil and gas company’s stock, valued at approximately $1,186,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in TechnipFMC during the fourth quarter worth $33,000. Quarry LP lifted its stake in shares of TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of TechnipFMC in the 4th quarter valued at $45,000. KBC Group NV bought a new position in shares of TechnipFMC in the 4th quarter valued at $163,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC in the 4th quarter valued at $203,000. 96.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FTI has been the subject of a number of research reports. Susquehanna increased their price target on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of TechnipFMC in a research note on Friday, April 26th. Piper Sandler increased their price target on TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Barclays raised their target price on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Finally, TD Cowen raised their target price on TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

TechnipFMC Trading Up 0.3 %

TechnipFMC stock traded up $0.08 during trading hours on Thursday, reaching $26.27. 1,129,351 shares of the company’s stock were exchanged, compared to its average volume of 3,273,019. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The firm’s 50 day simple moving average is $25.70 and its 200 day simple moving average is $23.23. TechnipFMC plc has a twelve month low of $16.04 and a twelve month high of $27.30. The firm has a market capitalization of $11.32 billion, a PE ratio of 55.87 and a beta of 1.52.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The firm’s revenue was up 18.9% on a year-over-year basis. Research analysts predict that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st were paid a $0.05 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.76%. TechnipFMC’s dividend payout ratio is presently 42.55%.

Insider Activity

In other news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.93% of the stock is currently owned by company insiders.

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.