Pallas Capital Advisors LLC Boosts Stock Position in TechnipFMC plc (NYSE:FTI)

Pallas Capital Advisors LLC boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 25.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,011 shares of the oil and gas company’s stock after acquiring an additional 5,960 shares during the period. Pallas Capital Advisors LLC’s holdings in TechnipFMC were worth $840,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FTI. Hardman Johnston Global Advisors LLC increased its holdings in shares of TechnipFMC by 13.5% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock worth $236,482,000 after buying an additional 1,071,103 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in TechnipFMC by 2.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock worth $228,384,000 after acquiring an additional 204,435 shares during the last quarter. State Street Corp raised its position in TechnipFMC by 1.7% during the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after purchasing an additional 133,775 shares during the period. Pacer Advisors Inc. purchased a new stake in TechnipFMC during the third quarter valued at approximately $185,643,000. Finally, Franklin Resources Inc. lifted 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 during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays boosted their target price on TechnipFMC from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, October 29th. Finally, Citigroup raised their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $35.92.

TechnipFMC Stock Up 0.7 %

Shares of NYSE:FTI opened at $32.47 on Wednesday. The business’s 50 day moving average is $30.01 and its 200 day moving average is $27.74. The stock has a market cap of $13.81 billion, a P/E ratio of 21.36 and a beta of 1.54. TechnipFMC plc has a 52-week low of $18.50 and a 52-week high of $33.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. TechnipFMC’s dividend payout ratio is currently 13.16%.

TechnipFMC declared that its board has initiated a share buyback plan on Wednesday, October 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.