FMC Technologies, Inc. (NYSE:FTI)‘s stock had its “hold” rating restated by research analysts at Jefferies Group LLC in a research note issued to investors on Friday, July 14th. They presently have a $31.00 target price on the oil and gas company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 12.60% from the company’s previous close.
FTI has been the topic of a number of other research reports. Scotiabank set a $37.00 price objective on FMC Technologies and gave the stock a “buy” rating in a research note on Monday, May 1st. Sanford C. Bernstein raised FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price objective on the stock in a research note on Tuesday, May 16th. ValuEngine raised FMC Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. BMO Capital Markets set a $37.00 price objective on FMC Technologies and gave the stock a “hold” rating in a research note on Wednesday, April 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $43.00 price objective (down previously from $45.00) on shares of FMC Technologies in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. FMC Technologies currently has an average rating of “Hold” and a consensus target price of $34.78.
Shares of FMC Technologies (FTI) remained flat at $27.53 during mid-day trading on Friday. The company had a trading volume of 1,880,613 shares. The company has a market capitalization of $12.85 billion, a PE ratio of 33.29 and a beta of 0.92. The firm has a 50-day moving average of $27.64 and a 200-day moving average of $30.84. FMC Technologies has a 52-week low of $26.25 and a 52-week high of $36.14.
FMC Technologies (NYSE:FTI) last released its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.80 billion. On average, analysts anticipate that FMC Technologies will post $1.06 earnings per share for the current year.
FMC Technologies declared that its board has initiated a share buyback plan 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 buy up to 135% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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In other FMC Technologies news, CFO Maryann T. Mannen sold 6,500 shares of the company’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 completion of the sale, the chief financial officer now directly owns 309,261 shares in the company, valued at approximately $9,030,421.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bradley D. Beitler sold 12,000 shares of the company’s stock in a transaction 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 $2,812,352. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.
Several large investors have recently modified their holdings of FTI. Gateway Investment Advisers LLC boosted its stake in shares of FMC Technologies by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 28,794 shares of the oil and gas company’s stock valued at $783,000 after buying an additional 107 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of FMC Technologies by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 200 shares in the last quarter. Conning Inc. boosted its stake in shares of FMC Technologies by 2.7% in the second quarter. Conning Inc. now owns 7,665 shares of the oil and gas company’s stock valued at $208,000 after buying an additional 200 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its stake in shares of FMC Technologies by 4.8% in the second quarter. Bbva Compass Bancshares Inc. now owns 8,225 shares of the oil and gas company’s stock worth $224,000 after buying an additional 379 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of 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 period. Institutional investors and hedge funds own 64.65% 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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