TechnipFMC plc (NYSE:FTI) Short Interest Up 10.6% in November

TechnipFMC plc (NYSE:FTI) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 7,120,000 shares, an increase of 10.6% from the October 31st total of 6,440,000 shares. Based on an average daily trading volume, of 3,810,000 shares, the short-interest ratio is currently 1.9 days. Approximately 1.7% of the company’s stock are sold short.

Institutional Trading of TechnipFMC

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in TechnipFMC by 203.6% in the third quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 735 shares during the period. GAMMA Investing LLC boosted its holdings in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the period. ORG Wealth Partners LLC acquired a new position in TechnipFMC in the third quarter worth $30,000. ORG Partners LLC acquired a new position in TechnipFMC in the second quarter worth $33,000. Finally, Crewe Advisors LLC acquired a new position in TechnipFMC in the second quarter worth $51,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Price Performance

TechnipFMC stock opened at $31.52 on Wednesday. TechnipFMC has a 12-month low of $18.33 and a 12-month high of $31.76. The stock has a market capitalization of $13.41 billion, a P/E ratio of 20.74 and a beta of 1.54. The firm’s 50-day moving average is $27.77 and its two-hundred day moving average is $26.70. 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 announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $0.21 EPS. The company’s revenue was up 14.2% on a year-over-year basis. Equities analysts predict that TechnipFMC will post 1.58 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. TechnipFMC’s dividend payout ratio is currently 13.16%.

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

Analysts Set New Price Targets

FTI has been the subject of several research reports. Royal Bank of Canada started coverage on shares of TechnipFMC in a research report on Monday, November 18th. They issued an “outperform” rating and a $37.00 price target for the company. TD Cowen reaffirmed a “buy” rating and set a $37.00 price target on shares of TechnipFMC in a research note on Wednesday, November 27th. Susquehanna upped their price target on shares of TechnipFMC from $35.00 to $37.00 and gave the stock a “positive” rating in a research note on Friday, October 25th. Hsbc Global Res raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.91.

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.