Point72 DIFC Ltd Lowers Stock Position in TechnipFMC plc (NYSE:FTI)

Point72 DIFC Ltd reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 76.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,076 shares of the oil and gas company's stock after selling 32,951 shares during the quarter. Point72 DIFC Ltd's holdings in TechnipFMC were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FTI. Blue Trust Inc. raised its position in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company's stock valued at $29,000 after buying an additional 735 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of TechnipFMC in the 3rd quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 492 shares during the period. ORG Partners LLC acquired a new stake in shares of TechnipFMC during the 2nd quarter worth about $33,000. Finally, Crewe Advisors LLC purchased a new stake in TechnipFMC in the 2nd quarter valued at about $51,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Down 3.8 %

NYSE:FTI traded down $1.22 during mid-day trading on Friday, hitting $30.73. The stock had a trading volume of 5,341,080 shares, compared to its average volume of 3,314,671. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $32.64. The stock has a 50-day simple moving average of $28.09 and a two-hundred day simple moving average of $26.80. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $13.07 billion, a PE ratio of 20.22 and a beta of 1.54.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company's revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. On average, equities research analysts anticipate that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, November 19th. TechnipFMC's dividend payout ratio (DPR) is presently 13.16%.

Analyst Ratings Changes

FTI has been the subject of a number of recent analyst reports. Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research note on Monday, November 18th. They issued an "outperform" rating and a $37.00 price target on the stock. HSBC raised TechnipFMC from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a research report on Tuesday, October 29th. TD Cowen restated a "buy" rating and set a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. Bank of America boosted their price objective on TechnipFMC from $30.00 to $31.00 and gave the company a "buy" rating in a report on Monday, October 14th. Finally, Susquehanna raised their target price on 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, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $34.42.

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.