The Swiss National Bank Increases Position in Frank’s International NV (FI)

The Swiss National Bank Increases Position in Frank’s International NV (FI)

Swiss National Bank increased its position in shares of Frank’s International NV (NYSE:FI) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,500 shares of the company’s stock after buying an additional 1,300 shares during the period. Swiss National Bank’s holdings in Frank’s International NV were worth $972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. California State Teachers Retirement System raised its stake in shares of Frank’s International NV by 1.8% in the second quarter. California State Teachers Retirement System now owns 76,682 shares of the company’s stock worth $1,120,000 after buying an additional 1,366 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Frank’s International NV by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 165,610 shares of the company’s stock worth $2,419,000 after buying an additional 5,420 shares in the last quarter. Boston Private Wealth LLC raised its stake in shares of Frank’s International NV by 5.5% in the second quarter. Boston Private Wealth LLC now owns 16,126 shares of the company’s stock worth $236,000 after buying an additional 842 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Frank’s International NV by 557.6% in the second quarter. American Century Companies Inc. now owns 5,445,175 shares of the company’s stock worth $79,554,000 after buying an additional 4,617,086 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Frank’s International NV during the second quarter worth approximately $844,000. 26.85% of the stock is currently owned by hedge funds and other institutional investors.

Frank’s International NV (NYSE:FI) traded up 0.731% during trading on Wednesday, hitting $13.095. 470,970 shares of the company traded hands. The company’s market capitalization is $2.05 billion. The stock has a 50 day moving average price of $12.13 and a 200 day moving average price of $14.43. Frank’s International NV has a 12-month low of $10.91 and a 12-month high of $18.14.

Frank’s International NV (NYSE:FI) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.13. Frank’s International NV had a negative net margin of 1.14% and a positive return on equity of 1.00%. The business earned $121 million during the quarter, compared to analyst estimates of $142.41 million. During the same period in the previous year, the business posted $0.14 EPS. The business’s revenue for the quarter was down 52.4% compared to the same quarter last year. On average, equities analysts anticipate that Frank’s International NV will post ($0.41) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Monday, August 29th. Frank’s International NV’s dividend payout ratio (DPR) is presently -600.00%.

FI has been the topic of a number of research reports. KLR Group reissued a “buy” rating and issued a $22.00 price objective on shares of Frank’s International NV in a research report on Wednesday, June 15th. JPMorgan Chase & Co. initiated coverage on shares of Frank’s International NV in a research report on Wednesday, June 22nd. They issued a “neutral” rating and a $13.00 price objective on the stock. Evercore ISI lowered shares of Frank’s International NV from a “buy” rating to a “hold” rating and cut their price objective for the stock from $15.00 to $12.00 in a research report on Wednesday, June 29th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Frank’s International NV in a research report on Thursday, June 30th. Finally, Jefferies Group lowered shares of Frank’s International NV from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $14.50 to $12.00 in a research report on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.93.

In related news, major shareholder Donald E. Mosing acquired 41,000 shares of the company’s stock in a transaction on Friday, August 5th. The shares were acquired at an average cost of $12.15 per share, for a total transaction of $498,150.00. Following the purchase, the insider now owns 91,000 shares in the company, valued at $1,105,650. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 77.40% of the company’s stock.

Frank’s International NV Company Profile

Frank’s International N.V. is a provider of engineered tubular services to the oil and gas industry. The Company operates through three business segments: International Services, U.S. Services and Tubular Sales. The Company provides services to exploration and production companies in both offshore and onshore environments, with a focus on technically demanding wells.

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