Webs Creek Capital Management LP Reduces Stock Holdings in TechnipFMC plc (NYSE:FTI)

Webs Creek Capital Management LP lessened its holdings in TechnipFMC plc (NYSE:FTI) by 25.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 954,756 shares of the oil and gas company’s stock after selling 319,034 shares during the quarter. TechnipFMC comprises approximately 9.7% of Webs Creek Capital Management LP’s holdings, making the stock its 5th biggest position. Webs Creek Capital Management LP’s holdings in TechnipFMC were worth $23,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Spirit of America Management Corp NY bought a new stake in shares of TechnipFMC in the 4th quarter worth approximately $322,000. Oak Thistle LLC purchased a new stake in TechnipFMC in the fourth quarter worth $1,097,000. TriaGen Wealth Management LLC bought a new stake in shares of TechnipFMC in the fourth quarter valued at $302,000. International Assets Investment Management LLC purchased a new position in shares of TechnipFMC during the 4th quarter valued at $203,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TechnipFMC during the 4th quarter worth $203,000. 96.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Barclays boosted their price objective on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Citigroup upped their price target on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Bank of America increased their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.62.

Insider Activity

In other TechnipFMC news, CAO David Light sold 5,928 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction 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 $297,692.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.06% of the stock is owned by corporate insiders.

TechnipFMC Price Performance

NYSE FTI traded down $0.71 during trading hours on Thursday, reaching $28.79. 3,239,239 shares of the stock traded hands, compared to its average volume of 4,208,049. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The stock has a 50 day simple moving average of $26.28 and a two-hundred day simple moving average of $24.36. TechnipFMC plc has a 1 year low of $17.51 and a 1 year high of $29.85. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 61.26 and a beta of 1.52.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts predict that TechnipFMC plc will post 1.21 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. TechnipFMC’s payout ratio is 42.55%.

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.