AdvisorShares Investments LLC Takes $506,000 Position in TechnipFMC plc $FTI

AdvisorShares Investments LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,837 shares of the oil and gas company’s stock, valued at approximately $506,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTI. AE Wealth Management LLC lifted its position in TechnipFMC by 38.0% during the 3rd quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after acquiring an additional 50,593 shares during the last quarter. Lingohr Asset Management GmbH increased its stake in shares of TechnipFMC by 461.7% in the third quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after purchasing an additional 174,500 shares during the period. Bank of New York Mellon Corp lifted its position in shares of TechnipFMC by 80.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after purchasing an additional 1,415,621 shares during the last quarter. New York State Common Retirement Fund boosted its stake in TechnipFMC by 8.4% during the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after purchasing an additional 23,600 shares during the period. Finally, AQR Capital Management LLC boosted its stake in TechnipFMC by 13.8% during the 2nd quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock valued at $342,279,000 after purchasing an additional 1,202,713 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $59.11 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.13. The firm’s 50-day simple moving average is $49.30 and its 200-day simple moving average is $42.60. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $59.48. The firm has a market cap of $23.91 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 1.15 and a beta of 0.69.

TechnipFMC declared that its board has approved a stock buyback program on Wednesday, October 22nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FTI shares. UBS Group reiterated an “outperform” rating on shares of TechnipFMC in a report on Tuesday, October 28th. Citigroup upped their target price on shares of TechnipFMC from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, January 7th. Barclays boosted their price objective on shares of TechnipFMC from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Susquehanna increased their target price on shares of TechnipFMC from $48.00 to $56.00 and gave the company a “positive” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.