Citigroup Inc. Has $19.89 Million Position in TechnipFMC plc (NYSE:FTI)

Citigroup Inc. lessened its stake in shares of TechnipFMC plc (NYSE:FTI) by 27.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 758,192 shares of the oil and gas company’s stock after selling 288,489 shares during the period. Citigroup Inc.’s holdings in TechnipFMC were worth $19,887,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FTI. Blue Trust Inc. grew its stake 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 buying an additional 735 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of TechnipFMC in the third quarter valued at approximately $30,000. GAMMA Investing LLC grew its stake 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 worth $30,000 after acquiring an additional 492 shares during the last quarter. ORG Partners LLC bought a new position in TechnipFMC during the second quarter worth $33,000. Finally, Crewe Advisors LLC acquired a new position in TechnipFMC during the 2nd quarter valued at $51,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 1.3 %

Shares of TechnipFMC stock opened at $31.04 on Wednesday. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $31.06. The stock has a market capitalization of $13.21 billion, a P/E ratio of 20.42 and a beta of 1.51. The company has a 50-day simple moving average of $27.21 and a 200 day simple moving average of $26.50. 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 (NYSE:FTI) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.35 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share. Research analysts expect that TechnipFMC plc will post 1.56 earnings per share for the current fiscal year.

TechnipFMC declared 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 outstanding 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 generally an indication that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on FTI. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Bank of America upped their price target on TechnipFMC from $30.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 14th. Susquehanna lifted their price objective on TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. TD Cowen upped their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Citigroup lifted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.91.

About TechnipFMC

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.