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TechnipFMC PLC (NYSE:FTI) Position Reduced by JPMorgan Chase & Co.

By September 9, 2019 No Comments

JPMorgan Chase & Co. trimmed its holdings in TechnipFMC PLC (NYSE:FTI) by 54.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,525,187 shares of the oil and gas company’s stock after selling 1,836,156 shares during the quarter. JPMorgan Chase & Co. owned about 0.34% of TechnipFMC worth $38,648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NEXT Financial Group Inc grew its stake in shares of TechnipFMC by 13.0% during the 2nd quarter. NEXT Financial Group Inc now owns 3,624 shares of the oil and gas company’s stock valued at $94,000 after purchasing an additional 416 shares during the period. World Asset Management Inc lifted its position in shares of TechnipFMC by 1.9% during the 2nd quarter. World Asset Management Inc now owns 23,149 shares of the oil and gas company’s stock valued at $600,000 after buying an additional 426 shares in the last quarter. Mason Street Advisors LLC lifted its position in shares of TechnipFMC by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 60,700 shares of the oil and gas company’s stock valued at $1,428,000 after buying an additional 715 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of TechnipFMC by 3.9% during the 1st quarter. Moors & Cabot Inc. now owns 21,445 shares of the oil and gas company’s stock valued at $504,000 after buying an additional 800 shares in the last quarter. Finally, CWM Advisors LLC lifted its position in shares of TechnipFMC by 2.9% during the 2nd quarter. CWM Advisors LLC now owns 30,680 shares of the oil and gas company’s stock valued at $796,000 after buying an additional 879 shares in the last quarter. Institutional investors own 73.75% of the company’s stock.

FTI has been the topic of a number of analyst reports. Citigroup lifted their price objective on TechnipFMC from $27.40 to $29.50 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. ValuEngine raised TechnipFMC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. TheStreet cut TechnipFMC from a “b-” rating to a “c” rating in a report on Monday, August 19th. BMO Capital Markets set a $32.00 target price on TechnipFMC and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Cowen reaffirmed a “buy” rating and issued a $28.00 price objective on shares of TechnipFMC in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $30.50.

FTI traded down $0.56 during trading on Friday, hitting $25.18. The company’s stock had a trading volume of 3,469,332 shares, compared to its average volume of 3,600,107. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 1.29 and a beta of 1.50. The business’s fifty day simple moving average is $25.11 and its 200 day simple moving average is $23.93. TechnipFMC PLC has a twelve month low of $18.20 and a twelve month high of $32.91. The company has a current ratio of 1.18, a quick ratio of 1.04 and a debt-to-equity ratio of 0.43.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. TechnipFMC had a positive return on equity of 2.76% and a negative net margin of 15.64%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the business posted $0.28 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that TechnipFMC PLC will post 1.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, August 19th. This represents a $0.52 annualized dividend and a yield of 2.07%.

TechnipFMC Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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