TechnipFMC plc (NYSE:FTI) Short Interest Update

TechnipFMC plc (NYSE:FTI) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 7,630,000 shares, an increase of 8.4% from the July 31st total of 7,040,000 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average trading volume of 3,590,000 shares, the days-to-cover ratio is currently 2.1 days.

Insider Activity

In other news, CAO David Light sold 5,928 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at $297,692.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On TechnipFMC

A number of hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. acquired a new stake in TechnipFMC during the fourth quarter valued at $830,000. Norden Group LLC boosted its position in TechnipFMC by 2,899.1% during the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after purchasing an additional 366,266 shares during the last quarter. Natixis Advisors L.P. boosted its position in TechnipFMC by 198.2% during the fourth quarter. Natixis Advisors L.P. now owns 160,804 shares of the oil and gas company’s stock valued at $3,238,000 after purchasing an additional 106,884 shares during the last quarter. Vanguard Group Inc. boosted its position in TechnipFMC by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after purchasing an additional 126,247 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in TechnipFMC during the first quarter valued at $965,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FTI has been the topic of several research reports. Piper Sandler upped their target price on TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Citigroup raised their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Susquehanna upped their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.38.

TechnipFMC Price Performance

FTI opened at $26.84 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10. TechnipFMC has a 1-year low of $18.33 and a 1-year high of $29.85. The company has a 50-day moving average of $26.87 and a 200-day moving average of $25.47. The company has a market capitalization of $11.50 billion, a P/E ratio of 57.11 and a beta of 1.52.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. TechnipFMC’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Equities analysts expect that TechnipFMC will post 1.34 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Tuesday, August 20th. TechnipFMC’s payout ratio is 42.55%.

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.