Cibc World Market Inc. Makes New Investment in TechnipFMC plc (NYSE:FTI)

Cibc World Market Inc. acquired a new stake in TechnipFMC plc (NYSE:FTIGet Rating) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,156 shares of the oil and gas company’s stock, valued at approximately $203,000.

Several other large investors also recently modified their holdings of the company. AlphaCrest Capital Management LLC lifted its holdings in TechnipFMC by 2.8% in the first quarter. AlphaCrest Capital Management LLC now owns 66,870 shares of the oil and gas company’s stock valued at $518,000 after buying an additional 1,832 shares during the period. Cerity Partners LLC raised its position in shares of TechnipFMC by 14.0% in the 2nd quarter. Cerity Partners LLC now owns 19,403 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 2,385 shares in the last quarter. Truist Financial Corp lifted its stake in shares of TechnipFMC by 4.4% in the 2nd quarter. Truist Financial Corp now owns 81,138 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 3,392 shares during the period. JFS Wealth Advisors LLC boosted its position in shares of TechnipFMC by 773.8% during the 2nd quarter. JFS Wealth Advisors LLC now owns 3,836 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 3,397 shares in the last quarter. Finally, US Bancorp DE grew its stake in TechnipFMC by 28.4% during the second quarter. US Bancorp DE now owns 15,507 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 3,427 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $12.13 on Friday. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of -24.26 and a beta of 1.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.27. TechnipFMC plc has a fifty-two week low of $5.47 and a fifty-two week high of $12.42. The firm’s 50-day simple moving average is $10.31 and its 200 day simple moving average is $8.55.

Analyst Ratings Changes

Several equities analysts have issued reports on FTI shares. Barclays raised TechnipFMC from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $14.00 in a research note on Thursday, October 6th. Citigroup boosted their target price on shares of TechnipFMC to $12.40 in a research report on Tuesday, November 15th. Piper Sandler raised their price target on shares of TechnipFMC from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. BNP Paribas upgraded shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $14.50 price objective on the stock in a report on Wednesday, September 21st. Finally, StockNews.com started coverage on shares of TechnipFMC in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.37.

About TechnipFMC

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC plc (NYSE:FTIGet Rating).

Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

Receive News & Ratings for TechnipFMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC and related companies with MarketBeat.com's FREE daily email newsletter.