Point72 DIFC Ltd Makes New Investment in TechnipFMC plc (NYSE:FTI)

Point72 DIFC Ltd bought a new position in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 43,027 shares of the oil and gas company’s stock, valued at approximately $1,125,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FTI. Whittier Trust Co. purchased a new stake in TechnipFMC in the 1st quarter valued at about $29,000. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 73.1% in the second 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 in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $33,000. ORG Partners LLC bought a new stake in TechnipFMC during the second quarter worth $33,000. Finally, Quarry LP boosted its position in TechnipFMC by 76.6% in the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 1.6 %

TechnipFMC stock opened at $27.81 on Wednesday. The firm has a 50 day simple moving average of $26.50 and a 200 day simple moving average of $25.96. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $29.85. The firm has a market capitalization of $11.99 billion, a price-to-earnings ratio of 59.17 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, analysts predict that TechnipFMC plc will post 1.34 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. TechnipFMC’s dividend payout ratio (DPR) is currently 42.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FTI. Citigroup lifted their target price on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Susquehanna raised their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Finally, StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.51.

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.