Bayforest Capital Ltd Sells 32,107 Shares of TechnipFMC plc $FTI

Bayforest Capital Ltd lowered its stake in shares of TechnipFMC plc (NYSE:FTI) by 93.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,356 shares of the oil and gas company’s stock after selling 32,107 shares during the period. Bayforest Capital Ltd’s holdings in TechnipFMC were worth $93,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in TechnipFMC by 5,475.0% during the 3rd quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of TechnipFMC by 45.3% during the first 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. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TechnipFMC in the second quarter worth about $44,000. McIlrath & Eck LLC boosted its position in shares of TechnipFMC by 476.3% in the third quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,024 shares during the period. Finally, Ossiam grew its stake in TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 546 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Susquehanna boosted their price target on shares of TechnipFMC from $48.00 to $56.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. BNP Paribas Exane raised shares of TechnipFMC from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Friday, October 10th. TD Cowen lifted their price objective on shares of TechnipFMC from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Jefferies Financial Group upped their target price on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.46.

TechnipFMC Stock Performance

NYSE FTI opened at $52.10 on Thursday. The company has a 50-day simple moving average of $45.53 and a two-hundred day simple moving average of $40.07. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $52.76. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 23.26, a PEG 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 (NYSE:FTI) last announced its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $0.75 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, equities analysts forecast that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Dividend Announcement

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

TechnipFMC announced that its board has authorized a stock repurchase program on Wednesday, October 22nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

About TechnipFMC

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.