Chicago Partners Investment Group LLC Invests $252,000 in TechnipFMC plc (NYSE:FTI)

Chicago Partners Investment Group LLC acquired a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,702 shares of the oil and gas company's stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also modified their holdings of FTI. Bank of Montreal Can lifted its holdings in shares of TechnipFMC by 97.4% in the 2nd quarter. Bank of Montreal Can now owns 16,609 shares of the oil and gas company's stock valued at $434,000 after buying an additional 8,193 shares during the period. Creative Planning raised its holdings in 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 purchasing an additional 546 shares during the period. Sanctuary Advisors LLC acquired a new position in TechnipFMC in the 2nd quarter worth about $210,000. GAMMA Investing LLC raised its holdings in TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 693 shares during the period. Finally, Diversified Trust Co acquired a new position in TechnipFMC in the 3rd quarter worth about $952,000. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI stock traded down $0.02 during mid-day trading on Friday, hitting $30.81. 2,766,678 shares of the stock were exchanged, compared to its average volume of 3,191,384. The stock's fifty day simple moving average is $30.78 and its two-hundred day simple moving average is $28.32. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 20.27 and a beta of 1.52. TechnipFMC plc has a 12-month low of $18.78 and a 12-month high of $33.45. 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 declared that its board has initiated a share buyback program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bank of America upped their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Barclays boosted their price objective on TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. HSBC upgraded TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. Finally, Piper Sandler initiated coverage on TechnipFMC in a research report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 price target for the company. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Buy" and an average target price of $36.15.

TechnipFMC Company 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.