Hennessy Advisors Inc. Grows Stake in TechnipFMC plc (NYSE:FTI)

Hennessy Advisors Inc. raised its position in shares of TechnipFMC plc (NYSE:FTI) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,740 shares of the oil and gas company’s stock after acquiring an additional 25,300 shares during the period. Hennessy Advisors Inc. owned approximately 0.10% of TechnipFMC worth $11,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in TechnipFMC during the 3rd quarter valued at $185,643,000. Westfield Capital Management Co. LP bought a new position in shares of TechnipFMC in the 3rd quarter worth $49,273,000. Jennison Associates LLC lifted its stake in shares of TechnipFMC by 95.0% during the 3rd quarter. Jennison Associates LLC now owns 2,360,587 shares of the oil and gas company’s stock worth $61,918,000 after purchasing an additional 1,150,049 shares during the last quarter. Anomaly Capital Management LP boosted its position in TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after purchasing an additional 1,144,087 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC grew its stake in TechnipFMC by 13.5% in the third quarter. Hardman Johnston Global Advisors LLC now owns 9,015,711 shares of the oil and gas company’s stock valued at $236,482,000 after purchasing an additional 1,071,103 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent analyst reports. Piper Sandler began coverage on shares of TechnipFMC in a report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price target on the stock. Susquehanna lifted their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Hsbc Global Res raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Evercore ISI upped their target price on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada assumed coverage on shares of TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of “Buy” and a consensus price target of $36.15.

TechnipFMC Trading Up 0.3 %

TechnipFMC stock opened at $32.54 on Friday. The firm has a market cap of $13.84 billion, a PE ratio of 21.41 and a beta of 1.54. TechnipFMC plc has a 12 month low of $18.50 and a 12 month high of $33.45. The stock’s 50 day simple moving average is $30.29 and its two-hundred day simple moving average is $27.85. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22.

TechnipFMC (NYSE:FTI) last announced 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. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Analysts anticipate that TechnipFMC plc will post 1.61 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Tuesday, November 19th. TechnipFMC’s dividend payout ratio is presently 13.16%.

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

About TechnipFMC

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.