Seaport Global Securities reiterated their neutral rating on shares of FMC Technologies, Inc. (NYSE:FTI) in a research note released on Thursday.

A number of other equities research analysts have also recently commented on the company. Scotiabank set a $36.00 price objective on FMC Technologies and gave the stock a buy rating in a research note on Thursday. Piper Jaffray Companies set a $32.00 price objective on FMC Technologies and gave the stock a buy rating in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a hold rating and set a $31.00 price objective on shares of FMC Technologies in a research note on Friday, July 14th. Sanford C. Bernstein cut FMC Technologies from a market perform rating to an underperform rating and decreased their price objective for the stock from $39.00 to $22.00 in a research note on Thursday, July 13th. Finally, Cowen and Company reaffirmed a buy rating and set a $32.00 price objective on shares of FMC Technologies in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. FMC Technologies has an average rating of Hold and an average target price of $35.28.

FMC Technologies (FTI) opened at 28.89 on Thursday. FMC Technologies has a 52-week low of $26.25 and a 52-week high of $36.14. The firm has a market cap of $13.48 billion, a price-to-earnings ratio of 34.93 and a beta of 0.92. The company has a 50 day moving average price of $27.65 and a 200-day moving average price of $31.02.

FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.80 billion. Equities research analysts anticipate that FMC Technologies will post $1.06 EPS for the current year.

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FMC Technologies announced that its board has initiated a stock repurchase program on Wednesday, April 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 135% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

In related news, CFO Maryann T. Mannen sold 6,500 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $29.20, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley D. Beitler sold 12,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $32.00, for a total value of $384,000.00. Following the sale, the executive vice president now owns 87,886 shares in the company, valued at approximately $2,812,352. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 valued at $853,826,000 after buying an additional 4,105,582 shares during the last quarter. State Street Corp raised 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 valued at $665,332,000 after buying an additional 6,648,002 shares during the last quarter. BlackRock Inc. raised 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 valued at $655,198,000 after buying an additional 19,535,400 shares during the last quarter. First Eagle Investment Management LLC raised its stake in FMC Technologies by 68.6% in the first quarter. First Eagle Investment Management LLC now owns 19,967,797 shares of the oil and gas company’s stock valued at $648,953,000 after buying an additional 8,122,004 shares during the last quarter. Finally, OppenheimerFunds Inc. raised 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 valued at $428,601,000 after buying an additional 12,953,913 shares during the last quarter. Institutional investors and hedge funds own 64.20% 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.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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