NEW YORK, June 19, 2026, 06:06 EDT
- T. Rowe Price Investment Management and Pacer Advisors cut their reported positions in TechnipFMC. IEQ Capital added shares.
- The filings come as investors look for TechnipFMC management updates and Q2 numbers, after the stock slipped from its April peak.
- Strong subsea orders and backlog in the first quarter still make up the main bull case. But the ownership numbers only look backward.
T. Rowe Price Investment Management lowered its stake in TechnipFMC by 20.1% during the fourth quarter, with Pacer Advisors also cutting its position, recent U.S. filings showed. Investors got a mixed signal from funds on the oilfield services company.
TechnipFMC is drawing investor focus as CEO Doug Pferdehirt is set to speak at J.P. Morgan’s 2026 Natural Resources Conference in New York on June 24. The company also put its second-quarter results on the calendar for July 30.
T. Rowe Price Investment Management cut its stake in TechnipFMC, selling 5.8 million shares, according to MarketBeat, which cited a Form 13F filing. The firm kept 23.2 million shares, now valued at around $1.04 billion, making up 5.74% of the company.
Pacer Advisors cut its holding in TechnipFMC by 13.8%, now owning about 3.3 million shares worth $147.5 million, according to the report. The firm’s stake stands at around 0.83% of the company.
IEQ Capital went the other way, lifting its TechnipFMC stake 21.5% in Q4 to 991,253 shares, or about $44.2 million, per a June 13 MarketBeat note.
Form 13F is a quarterly filing that big U.S. investment managers have to make. The SEC says any manager handling at least $100 million in certain securities has to file. The disclosure comes up to 45 days after the quarter ends, so the numbers might trail what managers are actually trading.
TechnipFMC posted first-quarter revenue of $2.49 billion, an 11.6% rise from last year, with net income attributable to the company at $260.5 million. Diluted EPS came in at 64 cents. The operating picture looks stronger than split fund moves indicate.
TechnipFMC posted $2.15 billion in inbound orders with a $16.47 billion quarter-end backlog. CEO Pferdehirt called the quarter a good setup for the year, pointing to “confidence” in hitting $10 billion in Subsea orders for 2026. TechnipFMC
TechnipFMC shares slipped. The stock finished at $65.17 on June 18, losing 2.75% for the session and trading roughly 16% under its 52-week high of $77.78 from April 30, MarketWatch data show.
Baker Hughes shed 2.8% and SLB lost 4.4% in the latest trading, signaling the pressure was spread across the oilfield services space. TechnipFMC’s move landed in line with a weaker sector, not standing out as a standalone event.
Analyst sentiment is still mostly positive, though caution is building. MarketBeat calls TechnipFMC a “Moderate Buy”, with one Strong Buy, 12 Buys, and four Holds. RBC and UBS have both set price targets at $80, MarketBeat said, while HSBC switched to Hold in February but raised its price target at the time. MarketBeat
Investors might overvalue old ownership numbers or ignore real operating snags. TechnipFMC said Surface Technologies revenue dropped 11.9% quarter-on-quarter in Q1. The company pointed to project timing in the Middle East as the main factor, while saying just a small part of the decrease related to conflict in the region.
Some funds have cut exposure after gains, but others are still adding to the name, with the next moves resting on subsea order conversion, backlog quality and cash. The key test isn’t in the 13F filings anymore. Now it’s about what management will say before and during second-quarter earnings.
