TechnipFMC plc (NYSE:FTI) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd increased its position in shares of TechnipFMC plc (NYSE:FTI) by 22.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 34,271 shares of the oil and gas company’s stock after acquiring an additional 6,355 shares during the period. XTX Topco Ltd’s holdings in TechnipFMC were worth $899,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 735 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in TechnipFMC in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new stake in TechnipFMC in the 2nd quarter valued at about $33,000. GAMMA Investing LLC raised its position in TechnipFMC by 59.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,858 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 693 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in TechnipFMC in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $30.14 on Wednesday. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $32.64. The firm has a market capitalization of $12.82 billion, a price-to-earnings ratio of 19.83 and a beta of 1.54. The business has a 50 day simple moving average of $28.23 and a 200 day simple moving average of $26.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.21 EPS. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that TechnipFMC plc will post 1.58 EPS for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. TechnipFMC’s dividend payout ratio is 13.16%.

TechnipFMC declared that its board has approved a stock buyback program 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 repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

FTI has been the topic of a number of analyst reports. Susquehanna increased their price target on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research 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. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and increased their price target for the company from $29.00 to $40.00 in a research report on Friday, December 6th. TD Cowen reissued a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada started coverage on TechnipFMC in a research report on Monday, November 18th. They set an “outperform” rating and a $37.00 target price on the stock. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TechnipFMC presently has a consensus rating of “Buy” and a consensus target price of $34.42.

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.