Merit Financial Group LLC Takes Position in TechnipFMC plc (NYSE:FTI)

Merit Financial Group LLC purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,161 shares of the oil and gas company's stock, valued at approximately $410,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its holdings in 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 acquiring an additional 735 shares during the period. ORG Wealth Partners LLC acquired a new stake in TechnipFMC during the third quarter worth about $30,000. GAMMA Investing LLC grew its holdings in TechnipFMC by 59.5% during the third quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company's stock worth $49,000 after acquiring an additional 693 shares during the period. Toth Financial Advisory Corp grew its holdings in 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 worth $52,000 after acquiring an additional 1,900 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in TechnipFMC during the third quarter worth about $56,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Trading Down 0.7 %

TechnipFMC stock traded down $0.21 during trading on Friday, reaching $31.52. 872,290 shares of the company were exchanged, compared to its average volume of 3,486,834. TechnipFMC plc has a 52-week low of $18.53 and a 52-week high of $33.45. The company has a market capitalization of $13.41 billion, a P/E ratio of 20.75 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89. The stock's 50 day simple moving average is $30.64 and its two-hundred day simple moving average is $28.06.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $0.21 earnings per share. The firm's revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts expect that TechnipFMC plc will post 1.62 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on FTI shares. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a report on Tuesday, October 29th. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. StockNews.com raised TechnipFMC from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the company a "positive" rating in a report on Friday, October 25th. Finally, Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and raised their price objective for the company from $29.00 to $40.00 in a report on Friday, December 6th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of "Buy" and a consensus target price 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.