ARGA Investment Management LP reduced its stake in TechnipFMC plc (NYSE:FTI – Get Rating) by 99.3% in the fourth quarter, according to the latest 13F file filed with the U.S. Securities and Exchange Commission. The fund owned his 38,612 shares of oil and gas company stock after he sold 5,293,962 shares during the quarter. ARGA Investment Management LP’s holdings in TechnipFMC were valued at $471,000 as of the latest SEC filing.
Many other institutional investors have also changed positions at FTI. Signaturefd LLC increased his stake in TechnipFMC by 88.5% during the fourth quarter. Signaturefd LLC now owns 2,964 shares of oil and gas company stock valued at $36,000 after acquiring an additional 1,392 shares during the previous quarter. Wipfli Financial Advisors LLC purchased new stake in his TechnipFMC worth approximately $37,000 in the third quarter. Captrust Financial Advisors increased his TechnipFMC stake by 65.1% in the second quarter. Captrust Financial Advisors now owns 7,461 shares of oil and gas companies valued at $50,000 after acquiring an additional 2,943 shares in the previous quarter. Stephens Inc. AR bought a new position worth about $54,000 on his TechnipFMC in the fourth quarter. Finally, Tower Research Capital LLC TRC raised his TechnipFMC stake by 199.5% in the third quarter. Tower Research Capital LLC TRC now owns 6,612 shares of oil and gas company valued at $56,000 after purchasing an additional 4,404 shares in the previous quarter. 94.52% of the shares are owned by institutional investors and hedge funds.
TechnipFMC Stock Performance
The NYSE FTI rose $0.75 in Friday trading to reach $14.06. His 1,531,167 shares of the company’s stock were exchanged, but the average trading volume was his 5,385,169 shares. The stock has a 50-day moving average price of $13.70 and a 200-day moving average price of $12.75. TechnipFMC plc has a 52-week low of $5.47 and a 52-week high of $16.03. The company has a quick ratio of 0.93, a current ratio of 1.20 and a debt to equity ratio of 0.33.
TechnipFMC (NYSE:FTI – Get Rating) last released its quarterly earnings data on Thursday, Feb. 23. The oil and gas company reported quarterly earnings per share ($0.05), missing consensus expectations of $0.03 ($0.08). TechnipFMC’s net profit margin was negative 0.66% and return on equity was positive 0.04%. The company’s revenue for the quarter was $1.69 billion, compared with analyst estimates of $1.67 billion. During the same period last year, the business earned his EPS of ($0.12). The company’s revenue increased by 11.2% compared to the same quarter last year. On average, equity research analysts expect TechnipFMC plc to post his 0.49 EPS in the current financial year.
In another news, Director Carvalho Filho Eleazar De sold 22,208 shares in the company in a transaction that took place on Thursday, March 9th. The shares sold at an average price of $15.10, giving him a total of $335,340.80. Following the closing of the transaction, the Directors now own 107,092 shares of the Company’s stock valued at $1,617,089.20. The transaction was disclosed in legal filings with the Securities and Exchange Commission which can be accessed at this link. The insider owns his 1.06% stake in the company.
Analyst upgrades and downgrades
Many research analysts publish reports on FTI stocks. Piper Sandler lowered her price target on TechnipFMC stock to $18.00 from her $19.00 in a research report on Monday. Cowen raised her stock price target on TechnipFMC from her $17.00 to her $20.00 and gave it an “outperform” rating in a research note on Friday, Feb. 24. Benchmark began covering her TechnipFMC in an investigative report on Thursday, January 19th. They set a BUY rating and a company target price of $15.00. BTIG Research raised its price target on TechnipFMC from $15.00 to $18.00, giving it a Buy rating in its research report on Friday, February 24th. Finally, StockNews.com began covering her TechnipFMC shares in her research report on Thursday, March 16th. They set a “pending” rating on the company. One analyst rated the stock with a hold rating and 11 analysts issued buy ratings on the stock. According to MarketBeat data, TechnipFMC has an average rating of “moderate buy” with a consensus price target of $16.10.
TechnipFMC company profile
TechnipFMC plc is an energy services company engaged in providing solutions for hydrocarbon production and conversion. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment is engaged in the design and manufacture of 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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