Centiva Capital LP Sells 8,277 Shares of TechnipFMC plc (NYSE:FTI)

Centiva Capital LP reduced its position in shares of TechnipFMC plc (NYSE:FTI) by 14.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,870 shares of the oil and gas company’s stock after selling 8,277 shares during the period. Centiva Capital LP’s holdings in TechnipFMC were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of TechnipFMC by 203.6% during the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of TechnipFMC during the third quarter worth about $30,000. GAMMA Investing LLC grew its holdings in shares of TechnipFMC by 73.1% during the second 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 last quarter. ORG Partners LLC bought a new stake in shares of TechnipFMC during the second quarter worth about $33,000. Finally, Crewe Advisors LLC acquired a new position in shares of TechnipFMC in the second quarter worth approximately $51,000. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FTI. Citigroup lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. TD Cowen reaffirmed a “buy” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Wednesday, November 27th. Bank of America lifted their price objective on TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, HSBC raised TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Buy” and an average price target of $33.91.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $31.27 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $31.76. The stock’s 50 day moving average is $27.77 and its 200-day moving average is $26.70. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 20.57 and a beta of 1.54.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm earned $0.21 earnings per share. TechnipFMC’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts forecast that TechnipFMC plc will post 1.58 EPS for the current fiscal year.

TechnipFMC announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 annualized dividend and a yield of 0.64%. TechnipFMC’s dividend payout ratio (DPR) is currently 13.16%.

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.