Adams Natural Resources Fund Inc. Lowers Stock Holdings in TechnipFMC plc (NYSE:FTI)

Adams Natural Resources Fund Inc. reduced its position in TechnipFMC plc (NYSE:FTI - Free Report) by 36.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 109,500 shares of the oil and gas company's stock after selling 62,100 shares during the quarter. Adams Natural Resources Fund Inc.'s holdings in TechnipFMC were worth $3,169,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Natixis Advisors LLC grew its stake in shares of TechnipFMC by 14.6% during the third quarter. Natixis Advisors LLC now owns 109,330 shares of the oil and gas company's stock valued at $2,868,000 after acquiring an additional 13,889 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in shares of TechnipFMC by 1.5% in the third quarter. Pathstone Holdings LLC now owns 113,624 shares of the oil and gas company's stock valued at $2,980,000 after acquiring an additional 1,714 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of TechnipFMC by 12.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 213,539 shares of the oil and gas company's stock valued at $5,601,000 after purchasing an additional 23,893 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of TechnipFMC by 4,558.4% during the third quarter. Avior Wealth Management LLC now owns 13,556 shares of the oil and gas company's stock worth $356,000 after purchasing an additional 13,265 shares during the period. Finally, Foundry Partners LLC purchased a new stake in shares of TechnipFMC in the third quarter valued at $342,000. Institutional investors and hedge funds own 96.58% of the company's stock.

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Analyst Ratings Changes

FTI has been the subject of several analyst reports. Piper Sandler lifted their price objective on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Evercore ISI upped their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 target price for the company. TD Cowen restated a "buy" rating and set a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and increased their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of "Buy" and a consensus target price of $36.31.

Insider Buying and Selling at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the transaction, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the completion of the sale, the chief accounting officer now directly owns 7,529 shares of the company's stock, valued at approximately $187,472.10. This trade represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,706 shares of company stock worth $1,651,665. Corporate insiders own 1.06% of the company's stock.

TechnipFMC Trading Up 1.8 %

Shares of FTI stock traded up $0.54 during trading hours on Tuesday, hitting $30.38. 3,626,511 shares of the company were exchanged, compared to its average volume of 3,757,911. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a market cap of $12.78 billion, a P/E ratio of 19.99 and a beta of 1.54. The company has a 50 day simple moving average of $29.65 and a two-hundred day simple moving average of $28.78. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC's dividend payout ratio is currently 10.42%.

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.