Oppenheimer Asset Management Inc. Sells 101,463 Shares of TechnipFMC plc (NYSE:FTI)

Oppenheimer Asset Management Inc. cut its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 28.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 249,233 shares of the oil and gas company's stock after selling 101,463 shares during the period. Oppenheimer Asset Management Inc. owned 0.06% of TechnipFMC worth $6,537,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company's stock worth $1,019,337,000 after buying an additional 3,259,348 shares in the last quarter. Vanguard Group Inc. increased its stake in TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company's stock valued at $1,005,652,000 after purchasing an additional 134,880 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its position in shares of TechnipFMC by 13.5% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company's stock worth $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company's stock worth $228,384,000 after purchasing an additional 204,435 shares during the last quarter. Finally, Anomaly Capital Management LP raised its position in shares of TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company's stock valued at $89,429,000 after purchasing an additional 1,144,087 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FTI. Barclays boosted their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. TD Cowen lifted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. Finally, Bank of America lifted their price target on TechnipFMC from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $33.60.

TechnipFMC Stock Down 1.6 %

NYSE:FTI traded down $0.46 during mid-day trading on Friday, reaching $28.03. The company's stock had a trading volume of 1,595,639 shares, compared to its average volume of 4,010,302. The stock has a fifty day moving average of $26.45 and a 200-day moving average of $26.34. The firm has a market capitalization of $11.92 billion, a PE ratio of 18.74 and a beta of 1.51. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $29.85. 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 issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $0.21 EPS. The business's quarterly revenue was up 14.2% on a year-over-year basis. Equities research analysts forecast that TechnipFMC plc will post 1.47 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 19th. TechnipFMC's payout ratio is 13.16%.

TechnipFMC declared that its board has approved a stock repurchase 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 buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

TechnipFMC 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.