Exchange Traded Concepts LLC Cuts Stake in TechnipFMC plc (NYSE:FTI)

Exchange Traded Concepts LLC reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,115 shares of the oil and gas company's stock after selling 12,321 shares during the quarter. Exchange Traded Concepts LLC's holdings in TechnipFMC were worth $1,711,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC bought a new position in TechnipFMC in the 3rd quarter worth approximately $30,000. GAMMA Investing LLC raised its position in shares of TechnipFMC by 59.5% during the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock valued at $49,000 after buying an additional 693 shares during the last quarter. Toth Financial Advisory Corp raised its position in shares of TechnipFMC by 1,900.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company's stock valued at $52,000 after buying an additional 1,900 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of TechnipFMC in the third quarter worth $56,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Up 0.8 %

TechnipFMC stock traded up $0.25 during midday trading on Tuesday, reaching $30.72. The stock had a trading volume of 2,595,832 shares, compared to its average volume of 3,501,914. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 20.21 and a beta of 1.54. TechnipFMC plc has a 52-week low of $18.53 and a 52-week high of $33.45. The company has a fifty day moving average of $30.78 and a 200 day moving average of $28.18.

TechnipFMC announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. HSBC upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. Piper Sandler assumed coverage on TechnipFMC in a research report on Thursday, December 19th. They issued an "overweight" rating and a $39.00 target price on the stock. Royal Bank of Canada initiated coverage on TechnipFMC in a report on Monday, November 18th. They set an "outperform" rating and a $37.00 price target for the company. Barclays upped their price objective on TechnipFMC from $37.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $36.15.

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.