Bokf Na Sells 90,014 Shares of TechnipFMC plc (NYSE:FTI)

Bokf Na lowered its holdings in TechnipFMC plc (NYSE:FTI) by 40.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,000 shares of the oil and gas company’s stock after selling 90,014 shares during the quarter. Bokf Na’s holdings in TechnipFMC were worth $3,314,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new stake in shares of TechnipFMC during the 1st quarter valued at about $29,000. Johnson Financial Group Inc. bought a new position in TechnipFMC in the fourth quarter valued at $33,000. Quarry LP raised its holdings in TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 768 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of TechnipFMC during the 4th quarter worth about $45,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of TechnipFMC by 367.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company’s stock valued at $89,000 after purchasing an additional 2,790 shares during the period. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Performance

Shares of FTI stock remained flat at $28.87 during mid-day trading on Monday. 205,057 shares of the stock were exchanged, compared to its average volume of 4,161,407. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 61.43 and a beta of 1.52. TechnipFMC plc has a 12-month low of $17.51 and a 12-month high of $29.24. The firm’s 50 day moving average price is $26.03 and its 200 day moving average price is $24.15.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the company earned $0.10 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. As a group, equities analysts expect that TechnipFMC plc will post 1.2 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. TechnipFMC’s payout ratio is 42.55%.

Insiders Place Their Bets

In related news, CAO David Light sold 5,928 shares of TechnipFMC stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on FTI shares. Barclays boosted their price target on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Citigroup upped their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. TD Cowen boosted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, April 26th. Bank of America boosted their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Susquehanna increased their price target on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.62.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.