91,163 Shares in TechnipFMC plc $FTI Bought by Chase Investment Counsel Corp

Chase Investment Counsel Corp bought a new stake in TechnipFMC plc (NYSE:FTI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 91,163 shares of the oil and gas company’s stock, valued at approximately $3,596,000.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in shares of TechnipFMC by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after acquiring an additional 232,491 shares in the last quarter. AQR Capital Management LLC grew its holdings in TechnipFMC by 13.8% in the second quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock worth $342,279,000 after purchasing an additional 1,202,713 shares during the last quarter. Boston Partners increased its position in shares of TechnipFMC by 267.5% during the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after purchasing an additional 7,038,640 shares in the last quarter. Norges Bank purchased a new stake in shares of TechnipFMC during the 2nd quarter valued at $151,413,000. Finally, Pacer Advisors Inc. boosted its position in shares of TechnipFMC by 91.5% in the 3rd quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock worth $151,382,000 after purchasing an additional 1,833,601 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on FTI shares. Royal Bank Of Canada increased their price target on TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday. TD Cowen restated a “buy” rating on shares of TechnipFMC in a report on Friday. Piper Sandler increased their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. BMO Capital Markets boosted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and raised their price target for the stock from $49.00 to $62.00 in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.93.

TechnipFMC Stock Up 1.0%

FTI stock opened at $64.15 on Tuesday. The company has a market capitalization of $25.66 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 1.23 and a beta of 0.69. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $64.99. The firm’s fifty day simple moving average is $52.74 and its 200-day simple moving average is $44.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.51 by $0.19. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. As a group, equities research analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is currently 8.66%.

TechnipFMC Company 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.