BlackRock Inc. trimmed its holdings in shares of TechnipFMC plc (NYSE:FTI) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,672,819 shares of the oil and gas company’s stock after selling 31,465 shares during the period. BlackRock Inc. owned approximately 4.39% of TechnipFMC worth $151,874,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of FTI. OLD Mission Capital LLC acquired a new position in TechnipFMC during the third quarter valued at $131,000. Creative Planning grew its stake in TechnipFMC by 9.7% in the fourth quarter. Creative Planning now owns 26,991 shares of the oil and gas company’s stock valued at $254,000 after purchasing an additional 2,387 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in TechnipFMC by 3.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 307,292 shares of the oil and gas company’s stock valued at $2,889,000 after purchasing an additional 10,584 shares in the last quarter. SG Americas Securities LLC grew its stake in TechnipFMC by 112.0% in the fourth quarter. SG Americas Securities LLC now owns 339,395 shares of the oil and gas company’s stock valued at $3,190,000 after purchasing an additional 179,311 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in TechnipFMC by 0.9% in the fourth quarter. Pzena Investment Management LLC now owns 24,671,025 shares of the oil and gas company’s stock valued at $231,908,000 after purchasing an additional 232,048 shares in the last quarter. 74.93% of the stock is currently owned by hedge funds and other institutional investors.
FTI has been the topic of a number of recent research reports. BNP Paribas initiated coverage on TechnipFMC in a research note on Tuesday, March 2nd. They issued a “neutral” rating on the stock. Morgan Stanley decreased their price target on TechnipFMC from $8.80 to $8.50 and set an “equal weight” rating for the company in a research note on Friday, April 16th. Exane BNP Paribas initiated coverage on TechnipFMC in a research note on Tuesday, March 2nd. They set a “neutral” rating for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “neutral” rating on shares of TechnipFMC in a research note on Wednesday, March 24th. Finally, BTIG Research initiated coverage on TechnipFMC in a research note on Thursday, April 1st. They set a “buy” rating and a $12.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.17.
Shares of FTI opened at $9.96 on Wednesday. TechnipFMC plc has a 1 year low of $5.11 and a 1 year high of $13.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.32 and a current ratio of 1.62. The stock has a 50 day moving average of $8.31. The firm has a market cap of $4.49 billion, a PE ratio of 13.46 and a beta of 2.25.
TechnipFMC (NYSE:FTI) last issued its earnings results on Tuesday, April 27th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.07. TechnipFMC had a return on equity of 3.02% and a net margin of 2.91%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.49 billion. As a group, analysts anticipate that TechnipFMC plc will post -0.13 earnings per share for the current fiscal year.
TechnipFMC Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through two segments, Subsea and Surface Technologies. The Subsea segment designs and manufactures products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.
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