Point72 Hong Kong Ltd Has $1.09 Million Position in TechnipFMC plc (NYSE:FTI)

Point72 Hong Kong Ltd trimmed its position in TechnipFMC plc (NYSE:FTI) by 28.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,458 shares of the oil and gas company’s stock after selling 16,157 shares during the quarter. Point72 Hong Kong Ltd’s holdings in TechnipFMC were worth $1,087,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in shares of TechnipFMC in the third quarter valued at about $57,000. Maverick Capital Ltd. boosted its holdings in TechnipFMC by 7.5% in the 3rd quarter. Maverick Capital Ltd. now owns 64,139 shares of the oil and gas company’s stock valued at $1,682,000 after purchasing an additional 4,464 shares during the period. Captrust Financial Advisors grew its position in shares of TechnipFMC by 11.7% during the 3rd quarter. Captrust Financial Advisors now owns 40,741 shares of the oil and gas company’s stock worth $1,069,000 after purchasing an additional 4,273 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of TechnipFMC during the third quarter worth approximately $250,000. Finally, Vinva Investment Management Ltd acquired a new stake in shares of TechnipFMC in the third quarter valued at approximately $206,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 1.2 %

Shares of FTI opened at $31.37 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 52 week low of $18.33 and a 52 week high of $31.53. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 20.64 and a beta of 1.51. The stock has a fifty day moving average of $27.61 and a 200-day moving average of $26.63.

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

TechnipFMC declared that its Board of Directors has approved a share repurchase program on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FTI shares. TD Cowen reissued a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. BMO Capital Markets raised their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Barclays upped their price objective on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Susquehanna raised their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a report on Friday, October 25th. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, October 29th. One equities 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 has a consensus rating of “Buy” and a consensus 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.