Oregon Public Employees Retirement Fund Takes Position in TechnipFMC plc $FTI

Oregon Public Employees Retirement Fund acquired a new stake in TechnipFMC plc (NYSE:FTI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 82,763 shares of the oil and gas company’s stock, valued at approximately $3,265,000.

Several other hedge funds also recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in TechnipFMC by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,139,326 shares of the oil and gas company’s stock valued at $36,105,000 after purchasing an additional 53,206 shares during the period. Focus Partners Wealth increased its position in shares of TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the period. Strs Ohio acquired a new position in TechnipFMC in the first quarter valued at about $8,113,000. Finally, Kera Capital Partners Inc. purchased a new position in TechnipFMC during the second quarter worth about $244,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of FTI stock opened at $50.06 on Monday. The firm has a 50 day moving average of $45.01 and a two-hundred day moving average of $39.77. The stock has a market capitalization of $20.25 billion, a PE ratio of 22.35, a P/E/G ratio of 0.98 and a beta of 0.66. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $50.44.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. TechnipFMC had a return on equity of 30.23% and a net margin of 9.67%.The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the business posted $0.64 earnings per share. TechnipFMC’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 22nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Tuesday, November 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. TechnipFMC’s payout ratio is currently 8.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FTI shares. Piper Sandler boosted their price target on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group increased their target price on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.