Oliver Luxxe Assets LLC Sells 27,734 Shares of TechnipFMC plc (NYSE:FTI)

Oliver Luxxe Assets LLC decreased its stake in TechnipFMC plc (NYSE:FTI) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,964 shares of the oil and gas company’s stock after selling 27,734 shares during the period. Oliver Luxxe Assets LLC’s holdings in TechnipFMC were worth $4,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FTI. Insight Wealth Strategies LLC purchased a new stake in TechnipFMC in the fourth quarter worth approximately $4,088,000. GAMMA Investing LLC lifted its holdings in shares of TechnipFMC by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 414 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after purchasing an additional 679,748 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of TechnipFMC by 264.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,783 shares of the oil and gas company’s stock valued at $755,000 after purchasing an additional 20,877 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in TechnipFMC by 1.9% in the 3rd quarter. Morse Asset Management Inc now owns 67,575 shares of the oil and gas company’s stock worth $1,772,000 after purchasing an additional 1,245 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FTI shares. Barclays raised their price objective on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Hsbc Global Res upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Piper Sandler started coverage on TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective for the company. Royal Bank of Canada began coverage on TechnipFMC in a research note on Monday, November 18th. They set an “outperform” rating and a $37.00 price objective for the company. Finally, HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $35.92.

TechnipFMC Trading Up 0.7 %

Shares of NYSE FTI traded up $0.23 during midday trading on Monday, hitting $31.58. 3,206,764 shares of the company traded hands, compared to its average volume of 3,628,752. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $32.64. The firm has a market cap of $13.43 billion, a P/E ratio of 20.78 and a beta of 1.54. The stock has a 50-day moving average price of $29.31 and a 200 day moving average price of $27.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. As a group, analysts expect that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, November 19th. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC 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.