TechnipFMC plc (NYSE:FTI) Stock Holdings Cut by Citigroup Inc.

Citigroup Inc. lessened its position in TechnipFMC plc (NYSE:FTI) by 27.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 758,192 shares of the oil and gas company’s stock after selling 288,489 shares during the period. Citigroup Inc. owned approximately 0.18% of TechnipFMC worth $19,887,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in TechnipFMC by 203.6% in the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of TechnipFMC by 73.1% in the 2nd 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 in the last quarter. ORG Wealth Partners LLC acquired a new stake in TechnipFMC during the third quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in TechnipFMC during the second quarter worth approximately $33,000. Finally, Crewe Advisors LLC bought a new position in shares of TechnipFMC in the second quarter valued at $51,000. Institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FTI shares. Susquehanna raised their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup upped their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TechnipFMC has a consensus rating of “Buy” and an average target price of $33.91.

TechnipFMC Trading Up 1.3 %

NYSE FTI opened at $31.04 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 1-year low of $18.33 and a 1-year high of $31.06. The firm’s fifty day simple moving average is $27.21 and its 200-day simple moving average is $26.50. The company has a market capitalization of $13.21 billion, a PE ratio of 20.42 and a beta of 1.51.

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 the consensus estimate of $0.39 by $0.25. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. As a group, sell-side analysts anticipate that TechnipFMC plc will post 1.56 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

TechnipFMC announced that its board has initiated a stock repurchase plan on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.