SCP Investment LP Has $949,000 Position in TechnipFMC plc (NYSE:FTI)

SCP Investment LP raised its position in TechnipFMC plc (NYSE:FTI) by 272.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,800 shares of the oil and gas company’s stock after buying an additional 24,000 shares during the quarter. TechnipFMC accounts for 0.7% of SCP Investment LP’s holdings, making the stock its 18th biggest holding. SCP Investment LP’s holdings in TechnipFMC were worth $949,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new position in shares of TechnipFMC in the fourth quarter valued at about $4,916,000. Arrowstreet Capital Limited Partnership grew its position in shares of TechnipFMC by 184.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,057,827 shares of the oil and gas company’s stock worth $30,614,000 after purchasing an additional 685,330 shares in the last quarter. Ramirez Asset Management Inc. increased its holdings in shares of TechnipFMC by 3.0% during the fourth quarter. Ramirez Asset Management Inc. now owns 246,304 shares of the oil and gas company’s stock worth $7,128,000 after purchasing an additional 7,266 shares during the period. Pictet Asset Management Holding SA raised its position in shares of TechnipFMC by 14.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 63,575 shares of the oil and gas company’s stock valued at $1,840,000 after buying an additional 7,830 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $96,808,000. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In related news, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares of the company’s stock, valued at $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the sale, the executive vice president now owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by company insiders.

TechnipFMC Trading Down 0.2 %

Shares of NYSE FTI opened at $31.18 on Friday. The stock has a market cap of $13.11 billion, a P/E ratio of 20.51 and a beta of 1.54. The firm has a 50 day moving average price of $29.56 and a two-hundred day moving average price of $28.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 52-week low of $22.99 and a 52-week high of $33.45.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s dividend payout ratio is currently 10.42%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FTI shares. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the stock from $29.00 to $40.00 in a research report on Friday, December 6th. Evercore ISI upped their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a report on Friday, December 13th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Barclays upped their price target on shares of TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.31.

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.