R Squared Ltd Invests $173,000 in TechnipFMC plc (NYSE:FTI)

R Squared Ltd acquired a new stake in TechnipFMC plc (NYSE:FTI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,970 shares of the oil and gas company’s stock, valued at approximately $173,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTI. Blue Trust Inc. lifted its holdings in shares of TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 735 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in TechnipFMC in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC lifted its stake 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 acquiring an additional 693 shares in the last quarter. Toth Financial Advisory Corp boosted its position in TechnipFMC by 1,900.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $56,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Trading Down 2.2 %

FTI stock opened at $30.07 on Thursday. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 19.78 and a beta of 1.54. The company has a fifty day moving average price of $30.81 and a two-hundred day moving average price of $28.19. TechnipFMC plc has a one year low of $18.53 and a one year high of $33.45. 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 declared that its board has authorized a stock buyback plan on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler started coverage on shares of TechnipFMC in a research report on Thursday, December 19th. They issued an “overweight” rating and a $39.00 price objective on the stock. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Susquehanna lifted their target price on TechnipFMC from $35.00 to $37.00 and gave the company a “positive” rating in a research report on Friday, October 25th. TD Cowen reissued a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research report on Wednesday, November 27th. Finally, Barclays boosted their price target on TechnipFMC from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $36.15.

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.