Merewether Investment Management LP Has $25.62 Million Stock Holdings in TechnipFMC plc (NYSE:FTI)

Merewether Investment Management LP trimmed its position in TechnipFMC plc (NYSE:FTI - Free Report) by 70.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 976,555 shares of the oil and gas company's stock after selling 2,282,532 shares during the quarter. TechnipFMC makes up 1.2% of Merewether Investment Management LP's holdings, making the stock its 28th largest position. Merewether Investment Management LP owned about 0.23% of TechnipFMC worth $25,615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Millburn Ridgefield Corp bought a new stake in shares of TechnipFMC in the 3rd quarter valued at about $189,000. Morse Asset Management Inc grew its stake in TechnipFMC by 2.6% in the 3rd quarter. Morse Asset Management Inc now owns 68,075 shares of the oil and gas company's stock valued at $1,786,000 after buying an additional 1,745 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in TechnipFMC by 68.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,694,759 shares of the oil and gas company's stock valued at $44,454,000 after buying an additional 688,622 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in TechnipFMC in the 3rd quarter valued at about $311,000. Finally, True Wealth Design LLC acquired a new position in TechnipFMC in the 3rd quarter valued at about $57,000. 96.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Friday, November 1st. Susquehanna increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a "positive" rating in a research report on Friday, October 25th. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an "outperform" rating and a $37.00 target price on the stock. Bank of America increased their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Finally, Citigroup increased their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $33.91.

TechnipFMC Trading Down 0.8 %

Shares of FTI stock traded down $0.25 during trading hours on Wednesday, hitting $31.27. 3,430,729 shares of the company's stock traded hands, compared to its average volume of 4,002,177. The stock's 50 day simple moving average is $27.77 and its 200 day simple moving average is $26.70. The stock has a market cap of $13.30 billion, a PE ratio of 20.74 and a beta of 1.54. TechnipFMC plc has a 12 month low of $18.33 and a 12 month high of $31.76. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

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, topping 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 business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $0.21 earnings per share. TechnipFMC's quarterly revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC declared that its Board of Directors has authorized a share repurchase program 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's dividend payout ratio is presently 13.16%.

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.