Triasima Portfolio Management inc. Invests $236,000 in TechnipFMC plc (NYSE:FTI)

Triasima Portfolio Management inc. purchased a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 8,150 shares of the oil and gas company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTI. Baker Tilly Wealth Management LLC raised its position in shares of TechnipFMC by 4.1% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,581 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 338 shares during the period. Yousif Capital Management LLC increased its stake in TechnipFMC by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 8,172 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 357 shares in the last quarter. GAMMA Investing LLC raised its holdings in TechnipFMC by 22.3% in the fourth quarter. GAMMA Investing LLC now owns 2,272 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 414 shares during the period. Ballentine Partners LLC boosted its position in shares of TechnipFMC by 3.8% during the fourth quarter. Ballentine Partners LLC now owns 11,646 shares of the oil and gas company’s stock worth $337,000 after purchasing an additional 423 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of TechnipFMC by 3.2% in the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after buying an additional 546 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Down 0.1 %

Shares of FTI stock opened at $30.81 on Friday. The firm’s fifty day moving average price is $30.78 and its two-hundred day moving average price is $28.32. TechnipFMC plc has a 1 year low of $18.78 and a 1 year high of $33.45. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $13.11 billion, a P/E ratio of 20.27 and a beta of 1.52.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. HSBC upgraded TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 29th. Piper Sandler assumed coverage on TechnipFMC in a report on Thursday, December 19th. They set an “overweight” rating and a $39.00 price objective on the stock. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the stock from $29.00 to $40.00 in a research note on Friday, December 6th. Bank of America raised their target price on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Buy” and an average target price of $36.15.

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.