TechnipFMC plc (NYSE:FTI) Sees Significant Decline in Short Interest

TechnipFMC plc (NYSE:FTI) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 8,840,000 shares, a decrease of 10.3% from the September 15th total of 9,850,000 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 4,030,000 shares, the short-interest ratio is presently 2.2 days.

TechnipFMC Price Performance

NYSE FTI traded up $0.04 during trading hours on Thursday, hitting $26.53. 2,165,427 shares of the company’s stock traded hands, compared to its average volume of 4,060,831. TechnipFMC has a 52-week low of $18.33 and a 52-week high of $29.85. The company has a market capitalization of $11.43 billion, a PE ratio of 56.45 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The firm’s 50-day moving average is $26.21 and its 200-day moving average is $26.21.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.12. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. TechnipFMC’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. Equities analysts forecast that TechnipFMC will post 1.37 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were issued a $0.05 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.75%. TechnipFMC’s payout ratio is 42.55%.

Hedge Funds Weigh In On TechnipFMC

Institutional investors and hedge funds have recently bought and sold shares of the company. Whittier Trust Co. acquired a new position in TechnipFMC in the 1st quarter valued at about $29,000. GAMMA Investing LLC boosted its position in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of TechnipFMC during the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in shares of TechnipFMC during the 2nd quarter worth approximately $33,000. Finally, Quarry LP boosted its position in shares of TechnipFMC by 76.6% during the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTI has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Susquehanna boosted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Bank of America boosted their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup boosted their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.74.

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.