Keeley Teton Advisors LLC Raises Stock Position in TechnipFMC plc (NYSE:FTI)

Keeley Teton Advisors LLC grew its holdings in TechnipFMC plc (NYSE:FTIGet Rating) by 473.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 722,044 shares of the oil and gas company’s stock after buying an additional 596,032 shares during the period. Keeley Teton Advisors LLC owned approximately 0.16% of TechnipFMC worth $5,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP purchased a new position in shares of TechnipFMC in the 1st quarter worth $28,000. FNY Investment Advisers LLC bought a new stake in shares of TechnipFMC in the 1st quarter worth about $46,000. Zions Bancorporation N.A. bought a new stake in shares of TechnipFMC in the 1st quarter worth about $58,000. Capital Advisors Inc. OK bought a new stake in shares of TechnipFMC in the 1st quarter worth about $78,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of TechnipFMC in the 1st quarter worth about $97,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Down 2.8 %

NYSE:FTI opened at $8.82 on Wednesday. TechnipFMC plc has a one year low of $5.47 and a one year high of $9.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.29. The firm has a market cap of $3.99 billion, a P/E ratio of -16.04 and a beta of 1.87. The firm has a 50-day simple moving average of $7.71 and a 200-day simple moving average of $7.60.

TechnipFMC (NYSE:FTIGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). TechnipFMC had a negative net margin of 3.88% and a negative return on equity of 2.48%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts anticipate that TechnipFMC plc will post 0.16 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has initiated a share repurchase program on Wednesday, July 27th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 13.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FTI shares. Benchmark started coverage on shares of TechnipFMC in a report on Wednesday, August 24th. They issued a “buy” rating and a $12.00 target price for the company. Bank of America upgraded shares of TechnipFMC from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $9.50 to $8.00 in a report on Friday, July 15th. Cowen decreased their price objective on shares of TechnipFMC from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, June 23rd. Finally, Cowen decreased their price objective on shares of TechnipFMC from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, June 23rd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $11.00.

About TechnipFMC

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TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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