JPMorgan Chase & Co. Lowers Holdings in TechnipFMC plc (NYSE:FTI)

JPMorgan Chase & Co. trimmed its position in TechnipFMC plc (NYSE:FTI - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,856,385 shares of the oil and gas company's stock after selling 1,405,989 shares during the period. JPMorgan Chase & Co. owned 5.14% of TechnipFMC worth $573,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FTI. Blue Trust Inc. increased its position in shares of TechnipFMC by 203.6% in 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 during the last quarter. ORG Wealth Partners LLC bought a new position in shares of TechnipFMC in the 3rd quarter worth $30,000. GAMMA Investing LLC increased its holdings in shares of 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 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 3rd 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 in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of TechnipFMC during the 3rd quarter worth $56,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FTI has been the subject of a number of research reports. Bank of America upped their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, October 14th. The Goldman Sachs Group assumed coverage on TechnipFMC in a research note on Friday, December 13th. They set a "buy" rating and a $38.00 price objective on the stock. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. 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. Finally, Royal Bank of Canada started coverage on TechnipFMC in a research report on Monday, November 18th. They issued an "outperform" rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $35.92.

TechnipFMC Trading Down 0.4 %

FTI stock traded down $0.12 on Friday, reaching $29.04. The company's stock had a trading volume of 2,175,425 shares, compared to its average volume of 3,980,332. 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 business has a fifty day simple moving average of $28.92 and a two-hundred day simple moving average of $27.26. The firm has a market cap of $12.35 billion, a PE ratio of 19.11 and a beta of 1.54. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $32.64.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The company's revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, research analysts forecast that TechnipFMC plc will post 1.61 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. TechnipFMC's dividend payout ratio (DPR) is 13.16%.

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

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.