Point72 Asset Management L.P. Buys Shares of 649,312 TechnipFMC PLC (NYSE:FTI)
Point72 Asset Management L.P. bought a new stake in TechnipFMC PLC (NYSE:FTI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 649,312 shares of the oil and gas company’s stock, valued at approximately $13,921,000. Point72 Asset Management L.P. owned 0.14% of TechnipFMC as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in shares of TechnipFMC in the 4th quarter valued at about $27,000. Orion Portfolio Solutions LLC bought a new position in shares of TechnipFMC during the 4th quarter worth about $31,000. CSat Investment Advisory L.P. boosted its position in shares of TechnipFMC by 82.3% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,007 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 906 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its position in shares of TechnipFMC by 33.9% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 2,772 shares of the oil and gas company’s stock valued at $59,000 after acquiring an additional 702 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of TechnipFMC by 262.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,150 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,280 shares in the last quarter. Institutional investors own 82.82% of the company’s stock.
NYSE:FTI traded up $0.10 during trading hours on Thursday, hitting $7.08. The stock had a trading volume of 5,343,501 shares, compared to its average volume of 6,313,188. The company has a 50 day simple moving average of $12.89 and a two-hundred day simple moving average of $19.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.17 and a quick ratio of 1.03. TechnipFMC PLC has a one year low of $4.49 and a one year high of $28.57. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -1.39, a P/E/G ratio of 0.17 and a beta of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $0.52 dividend on an annualized basis and a yield of 7.34%.
In other news, Director Olivier Piou bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average cost of $5.41 per share, with a total value of $108,200.00. Following the transaction, the director now directly owns 65,965 shares in the company, valued at $356,870.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by corporate insiders.
Several research analysts recently issued reports on FTI shares. Morgan Stanley dropped their price target on shares of TechnipFMC from $25.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. ValuEngine upgraded shares of TechnipFMC from a “sell” rating to a “hold” rating in a research note on Tuesday. TheStreet cut shares of TechnipFMC from a “c-” rating to a “d” rating in a report on Monday, February 3rd. Cfra cut their target price on shares of TechnipFMC from $22.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Tudor Pickering cut TechnipFMC from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.55.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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