Oppenheimer Asset Management Inc. Sells 45,979 Shares of TechnipFMC plc $FTI

Oppenheimer Asset Management Inc. decreased its position in shares of TechnipFMC plc (NYSE:FTI) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,105 shares of the oil and gas company’s stock after selling 45,979 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.06% of TechnipFMC worth $8,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth lifted its stake in shares of TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after acquiring an additional 5,161 shares during the period. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Sivia Capital Partners LLC lifted its position in TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after purchasing an additional 6,381 shares during the period. IFP Advisors Inc boosted its stake in shares of TechnipFMC by 36.4% in the 2nd quarter. IFP Advisors Inc now owns 6,422 shares of the oil and gas company’s stock valued at $221,000 after purchasing an additional 1,714 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of TechnipFMC by 3.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,757 shares of the oil and gas company’s stock worth $1,231,000 after buying an additional 1,336 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

FTI stock opened at $59.97 on Tuesday. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $60.36. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.14. The firm has a market cap of $24.26 billion, a PE ratio of 26.77, a P/E/G ratio of 1.15 and a beta of 0.69. The business’s 50-day moving average price is $49.59 and its two-hundred day moving average price is $42.76.

TechnipFMC declared that its board has authorized a stock buyback plan on Wednesday, October 22nd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas company to buy up to 13.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Piper Sandler raised their price target on TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Susquehanna upped their price objective on TechnipFMC from $48.00 to $56.00 and gave the company a “positive” rating in a report on Wednesday, January 7th. UBS Group reissued an “outperform” rating on shares of TechnipFMC in a research note on Tuesday, October 28th. Finally, Citigroup boosted their target price on TechnipFMC from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.