Oppenheimer Asset Management Inc. Has $6.54 Million Holdings in TechnipFMC plc (NYSE:FTI)

Oppenheimer Asset Management Inc. trimmed its stake in shares of TechnipFMC plc (NYSE:FTI) by 28.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,233 shares of the oil and gas company’s stock after selling 101,463 shares during the period. Oppenheimer Asset Management Inc. owned about 0.06% of TechnipFMC worth $6,537,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after purchasing an additional 3,259,348 shares during the period. Vanguard Group Inc. raised its position in TechnipFMC by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after buying an additional 134,880 shares during the last quarter. Hardman Johnston Global Advisors LLC lifted its stake in 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 valued at $236,482,000 after acquiring an additional 1,071,103 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in TechnipFMC by 2.4% during the 2nd 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. Finally, Anomaly Capital Management LP grew its stake in shares of TechnipFMC by 50.3% during the 2nd quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after acquiring an additional 1,144,087 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FTI shares. TD Cowen increased their target price on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 25th. BMO Capital Markets increased their price objective on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Citigroup raised their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays upped their price target on shares of TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Buy” and an average price target of $33.60.

TechnipFMC Stock Performance

NYSE FTI opened at $28.49 on Friday. The stock has a market cap of $12.12 billion, a PE ratio of 18.74 and a beta of 1.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The firm has a 50-day moving average of $26.45 and a 200-day moving average of $26.34. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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 company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, sell-side analysts anticipate that TechnipFMC plc will post 1.47 EPS for the current year.

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

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, November 19th. TechnipFMC’s payout ratio is 13.16%.

TechnipFMC 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.