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

Adams Natural Resources Fund Inc. decreased its holdings in TechnipFMC plc (NYSE:FTI) by 36.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,500 shares of the oil and gas company’s stock after selling 62,100 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in TechnipFMC were worth $3,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of TechnipFMC by 1.7% during the third quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company’s stock valued at $215,100,000 after purchasing an additional 133,775 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in TechnipFMC by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company’s stock valued at $105,618,000 after buying an additional 249,719 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of TechnipFMC by 23.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company’s stock valued at $98,838,000 after buying an additional 679,748 shares during the period. Van ECK Associates Corp boosted its stake in shares of TechnipFMC by 10.4% in the 4th quarter. Van ECK Associates Corp now owns 2,987,606 shares of the oil and gas company’s stock worth $86,461,000 after buying an additional 281,665 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of TechnipFMC by 50.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,309,710 shares of the oil and gas company’s stock worth $66,842,000 after acquiring an additional 773,000 shares during the period. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI opened at $29.31 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 19.28 and a beta of 1.54. The company has a fifty day moving average of $29.74 and a 200 day moving average of $28.66. TechnipFMC plc has a fifty-two week low of $22.99 and a fifty-two week high of $33.45.

TechnipFMC Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, March 18th. TechnipFMC’s payout ratio is 10.42%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FTI. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and increased their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. Evercore ISI increased their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Piper Sandler upped their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 28th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research report on Friday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Barclays upped their price objective on TechnipFMC from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.31.

Insiders Place Their Bets

In other news, EVP Justin Rounce sold 42,178 shares of the business’s 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 sale, the executive vice president now owns 140,207 shares in the company, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total value of $252,660.30. Following the sale, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This trade 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.

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.