Point72 Hong Kong Ltd Has $1.09 Million Position in TechnipFMC plc (NYSE:FTI)

Point72 Hong Kong Ltd reduced its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 28.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,458 shares of the oil and gas company's stock after selling 16,157 shares during the quarter. Point72 Hong Kong Ltd's holdings in TechnipFMC were worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Atria Investments Inc acquired a new position in shares of TechnipFMC during the first quarter worth $1,684,000. GAMMA Investing LLC boosted its stake in TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 492 shares during the last quarter. Fulton Bank N.A. boosted its stake in TechnipFMC by 21.7% during the 2nd quarter. Fulton Bank N.A. now owns 19,279 shares of the oil and gas company's stock valued at $504,000 after acquiring an additional 3,432 shares during the last quarter. SG Americas Securities LLC boosted its stake in TechnipFMC by 0.4% during the 2nd quarter. SG Americas Securities LLC now owns 214,794 shares of the oil and gas company's stock valued at $5,617,000 after acquiring an additional 916 shares during the last quarter. Finally, ORG Partners LLC bought a new position in TechnipFMC during the 2nd quarter valued at $33,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

TechnipFMC stock traded down $0.11 during trading hours on Monday, hitting $31.26. 1,503,649 shares of the company traded hands, compared to its average volume of 3,983,764. The firm has a market cap of $13.30 billion, a P/E ratio of 20.52 and a beta of 1.51. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The firm's 50-day simple moving average is $27.61 and its two-hundred day simple moving average is $26.63. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $31.53.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $2.35 billion. During the same quarter last year, the company earned $0.21 EPS. TechnipFMC's quarterly revenue was up 14.2% on a year-over-year basis. As a group, analysts forecast that TechnipFMC plc will post 1.58 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC announced that its board has approved 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen reiterated a "buy" rating and set a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Citigroup raised their price target 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. Royal Bank of Canada started coverage on shares of TechnipFMC in a research report on Monday, November 18th. They issued an "outperform" rating and a $37.00 price target on the stock. Barclays raised 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. Finally, Hsbc Global Res upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC has an average rating of "Buy" and a consensus price target of $33.91.

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.