FMC Technologies, Inc. (NYSE:FTI)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday, July 14th. They currently have a $31.00 target price on the oil and gas company’s stock. Jefferies Group LLC’s target price points to a potential upside of 14.18% from the company’s previous close.
Several other brokerages also recently weighed in on FTI. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 target price on shares of FMC Technologies in a research note on Thursday, June 22nd. Seaport Global Securities downgraded FMC Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $26.00 in a research note on Wednesday, June 21st. BidaskClub downgraded FMC Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Barclays PLC set a $33.00 target price on FMC Technologies and gave the company a “hold” rating in a research note on Saturday, May 6th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $37.00 target price on shares of FMC Technologies in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.78.
FMC Technologies (NYSE:FTI) opened at 27.15 on Friday. FMC Technologies has a 1-year low of $25.95 and a 1-year high of $37.09. The firm’s 50-day moving average is $27.58 and its 200 day moving average is $30.77. The company has a market cap of $12.67 billion, a PE ratio of 32.83 and a beta of 0.92.
FMC Technologies (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Analysts predict that FMC Technologies will post $1.06 earnings per share for the current fiscal year.
FMC Technologies announced that its Board of Directors has approved a share buyback plan on Wednesday, April 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to buy up to 135% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, CFO Maryann T. Mannen sold 6,500 shares of FMC Technologies stock in a transaction on Monday, June 5th. The stock was sold at an average price of $29.20, for a total value of $189,800.00. Following the completion of the sale, the chief financial officer now owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bradley D. Beitler sold 12,000 shares of FMC Technologies stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the completion of the sale, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its stake in shares of FMC Technologies by 53.2% in the second quarter. First Eagle Investment Management LLC now owns 30,585,688 shares of the oil and gas company’s stock worth $831,931,000 after buying an additional 10,617,891 shares in the last quarter. Vanguard Group Inc. increased its stake in FMC Technologies by 18.5% in the first quarter. Vanguard Group Inc. now owns 26,271,582 shares of the oil and gas company’s stock worth $853,826,000 after buying an additional 4,105,582 shares during the period. State Street Corp increased its stake in FMC Technologies by 48.1% in the first quarter. State Street Corp now owns 20,471,445 shares of the oil and gas company’s stock worth $665,332,000 after buying an additional 6,648,002 shares during the period. BlackRock Inc. increased its stake in FMC Technologies by 3,127.8% in the first quarter. BlackRock Inc. now owns 20,159,977 shares of the oil and gas company’s stock worth $655,198,000 after buying an additional 19,535,400 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in FMC Technologies by 5,960.8% in the first quarter. OppenheimerFunds Inc. now owns 13,171,232 shares of the oil and gas company’s stock worth $428,601,000 after buying an additional 12,953,913 shares during the period. 64.70% of the stock is owned by institutional investors and hedge funds.
About FMC Technologies
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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