Jefferies Group LLC restated their hold rating on shares of FMC Technologies, Inc. (NYSE:FTI) in a research report report published on Friday. The brokerage currently has a $31.00 price objective on the oil and gas company’s stock.
FTI has been the topic of a number of other research reports. Scotiabank set a $37.00 target price on FMC Technologies and gave the company a buy rating in a report on Monday, May 1st. Sanford C. Bernstein raised FMC Technologies from an underperform rating to a market perform rating and set a $29.00 target price on the stock in a report on Tuesday, May 16th. ValuEngine raised FMC Technologies from a hold rating to a buy rating in a report on Saturday, July 8th. BMO Capital Markets set a $37.00 target price on FMC Technologies and gave the company a hold rating in a report on Wednesday, April 12th. Finally, Morgan Stanley reissued an overweight rating and issued a $43.00 target price (down previously from $45.00) on shares of FMC Technologies in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $34.60.
FMC Technologies (NYSE:FTI) traded down 0.96% during trading on Friday, reaching $27.81. 1,747,703 shares of the company’s stock were exchanged. FMC Technologies has a 12-month low of $26.25 and a 12-month high of $36.14. The company has a market cap of $12.97 billion, a P/E ratio of 16.68 and a beta of 0.92. The stock’s 50-day moving average is $29.03 and its 200-day moving average is $32.11.
FMC Technologies announced that its board has approved a share buyback program on Wednesday, April 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 135% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other FMC Technologies news, EVP Bradley D. Beitler sold 12,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $32.00, for a total transaction of $384,000.00. Following the sale, the executive vice president now directly owns 87,886 shares in the company, valued at $2,812,352. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Maryann T. Mannen sold 6,500 shares of the business’s 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 sale, the chief financial officer now owns 309,261 shares in the company, valued at $9,030,421.20. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Perigon Wealth Management LLC increased its stake in FMC Technologies by 19.7% in the first quarter. Perigon Wealth Management LLC now owns 5,017 shares of the oil and gas company’s stock worth $163,000 after buying an additional 826 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in FMC Technologies during the first quarter worth approximately $165,000. Macquarie Group Ltd. increased its stake in FMC Technologies by 8.3% in the fourth quarter. Macquarie Group Ltd. now owns 5,200 shares of the oil and gas company’s stock worth $185,000 after buying an additional 400 shares during the last quarter. MAVEN SECURITIES Ltd purchased a new stake in FMC Technologies during the first quarter worth approximately $174,000. Finally, Johanson Financial Advisors Inc. purchased a new stake in FMC Technologies during the first quarter worth approximately $201,000. Institutional investors own 64.15% of the company’s stock.
FMC Technologies Company Profile
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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