TechnipFMC PLC (NYSE:FTI) Short Interest Update
TechnipFMC PLC (NYSE:FTI) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 13,840,000 shares, a decrease of 11.4% from the June 15th total of 15,616,500 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily trading volume, of 3,580,000 shares, the days-to-cover ratio is currently 3.9 days.
Shares of NYSE:FTI traded down $0.30 during trading on Tuesday, reaching $27.88. 2,310,715 shares of the company traded hands, compared to its average volume of 3,063,242. The business’s 50 day moving average price is $25.12. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 3.80 and a beta of 1.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.18 and a quick ratio of 1.04. TechnipFMC has a 52 week low of $18.20 and a 52 week high of $33.60.
TechnipFMC (NYSE:FTI) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.27 billion. TechnipFMC had a positive return on equity of 2.76% and a negative net margin of 15.64%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. As a group, sell-side analysts forecast that TechnipFMC will post 1.25 EPS for the current fiscal year.
FTI has been the topic of a number of research reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $29.00 price objective on shares of TechnipFMC in a report on Monday, April 29th. AltaCorp Capital reaffirmed a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. BMO Capital Markets set a $216.00 price objective on Stryker and gave the company a “hold” rating in a report on Friday. Wells Fargo & Co upped their price objective on TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, TheStreet lowered Upland Software from a “b-” rating to a “c+” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.28.
Several large investors have recently added to or reduced their stakes in FTI. Norges Bank bought a new stake in shares of TechnipFMC during the 4th quarter worth $210,592,000. Pzena Investment Management LLC lifted its position in shares of TechnipFMC by 141.3% during the 1st quarter. Pzena Investment Management LLC now owns 4,977,275 shares of the oil and gas company’s stock worth $117,066,000 after buying an additional 2,914,800 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TechnipFMC by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,967,665 shares of the oil and gas company’s stock worth $97,077,000 after buying an additional 333,774 shares during the last quarter. Northern Trust Corp lifted its position in shares of TechnipFMC by 2.2% during the 1st quarter. Northern Trust Corp now owns 3,807,310 shares of the oil and gas company’s stock worth $89,548,000 after buying an additional 83,502 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of TechnipFMC by 0.4% during the 1st quarter. Jennison Associates LLC now owns 2,087,266 shares of the oil and gas company’s stock worth $49,092,000 after buying an additional 8,796 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.
TechnipFMC Company Profile
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.
Featured Story: P/E Growth (PEG)
Receive News & Ratings for TechnipFMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechnipFMC and related companies with MarketBeat.com's FREE daily email newsletter.