Adams Natural Resources Fund Inc. Sells 62,100 Shares of TechnipFMC plc (NYSE:FTI)

Adams Natural Resources Fund Inc. lowered its holdings in TechnipFMC plc (NYSE:FTI) by 36.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,500 shares of the oil and gas company’s stock after selling 62,100 shares during the period. Adams Natural Resources Fund Inc.’s holdings in TechnipFMC were worth $3,169,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FTI. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC in the 4th quarter worth about $46,000. Smartleaf Asset Management LLC lifted its position in TechnipFMC by 55.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock worth $43,000 after buying an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in TechnipFMC in the fourth quarter worth approximately $45,000. EverSource Wealth Advisors LLC grew its position in TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 563 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In other TechnipFMC news, EVP Justin Rounce sold 42,178 shares of TechnipFMC stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of the transaction, the executive vice president now directly owns 140,207 shares of the company’s stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Light sold 10,147 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the completion of the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

FTI has been the subject of several recent research reports. Jefferies Financial Group upgraded TechnipFMC from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $40.00 in a research report on Friday, December 6th. The Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price objective on the stock. TD Cowen reiterated a “buy” rating and set a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Piper Sandler raised their target price on TechnipFMC from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Evercore ISI upped their price target on TechnipFMC from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $36.31.

TechnipFMC Stock Performance

Shares of FTI stock opened at $29.31 on Friday. The company’s fifty day moving average price is $29.74 and its 200-day moving average price is $28.66. The stock has a market cap of $12.33 billion, a PE ratio of 19.28 and a beta of 1.54. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, March 18th. TechnipFMC’s payout ratio is currently 10.42%.

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.