FMC Technologies, Inc. (NYSE:FTI) Rating Reiterated by Jefferies Group LLC

FMC Technologies, Inc. (NYSE:FTI)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group LLC in a research report issued on Friday, July 14th. They currently have a $31.00 price target on the oil and gas company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 17.34% from the company’s current price.

Other analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 price objective on shares of FMC Technologies in a research report on Thursday, June 22nd. Seaport Global Securities downgraded shares of FMC Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $26.00 in a research report on Wednesday, June 21st. BidaskClub downgraded shares of FMC Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Barclays PLC set a $33.00 price target on shares of FMC Technologies and gave the company a “hold” rating in a research report on Saturday, May 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $37.00 price target on shares of FMC Technologies in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $34.78.

Shares of FMC Technologies (NYSE:FTI) opened at 26.42 on Friday. The company’s 50-day moving average is $27.59 and its 200-day moving average is $30.50. FMC Technologies has a 12 month low of $26.25 and a 12 month high of $37.09. The stock has a market capitalization of $12.33 billion, a PE ratio of 31.95 and a beta of 0.92.

FMC Technologies (NYSE:FTI) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.80 billion. Equities research analysts expect that FMC Technologies will post $1.06 earnings per share for the current fiscal year.

FMC Technologies declared that its Board of Directors has approved a stock buyback program on Wednesday, April 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas company to reacquire up to 135% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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In related news, CFO Maryann T. Mannen sold 6,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $9,030,421.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradley D. Beitler sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was 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 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 currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of 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 valued at $655,198,000 after buying an additional 19,535,400 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of 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 valued at $428,601,000 after buying an additional 12,953,913 shares during the last quarter. 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 valued at $831,931,000 after buying an additional 10,617,891 shares during the last quarter. AXA increased its stake in shares of FMC Technologies by 63,654.7% in the first quarter. AXA now owns 7,475,236 shares of the oil and gas company’s stock valued at $242,945,000 after buying an additional 7,463,511 shares during the last quarter. Finally, State Street Corp increased its stake in shares of 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 valued at $665,332,000 after buying an additional 6,648,002 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

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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