FMC Technologies, Inc. (NYSE:FTI) was upgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “buy” rating in a report released on Monday, October 2nd, Marketbeat reports. The firm currently has a $30.00 price objective on the oil and gas company’s stock, up from their previous price objective of $26.00. Citigroup Inc.’s price objective suggests a potential upside of 12.53% from the stock’s previous close.

A number of other analysts have also issued reports on FTI. BidaskClub lowered shares of FMC Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. UBS AG reaffirmed a “buy” rating and set a $36.00 price objective (down previously from $40.00) on shares of FMC Technologies in a research report on Monday, July 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $31.50 price target on shares of FMC Technologies in a report on Tuesday, September 26th. Seaport Global Securities reiterated a “neutral” rating on shares of FMC Technologies in a report on Thursday, July 27th. Finally, Scotiabank set a $36.00 price target on FMC Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. FMC Technologies currently has a consensus rating of “Buy” and an average target price of $35.09.

FMC Technologies (NYSE FTI) traded up 0.15% during midday trading on Monday, reaching $26.66. 1,509,008 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $26.79 and its 200-day moving average price is $28.65. FMC Technologies has a 1-year low of $25.17 and a 1-year high of $37.09. The company has a market capitalization of $12.45 billion, a PE ratio of 32.24 and a beta of 0.95.

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

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in FMC Technologies by 5.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 38,465 shares of the oil and gas company’s stock valued at $1,046,000 after acquiring an additional 1,982 shares in the last quarter. Sei Investments Co. raised its stake in shares of FMC Technologies by 204.4% during the 2nd quarter. Sei Investments Co. now owns 74,508 shares of the oil and gas company’s stock worth $2,027,000 after purchasing an additional 50,033 shares in the last quarter. Strs Ohio raised its stake in shares of FMC Technologies by 8.0% during the 2nd quarter. Strs Ohio now owns 1,355,000 shares of the oil and gas company’s stock worth $36,856,000 after purchasing an additional 100,000 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of FMC Technologies by 3.6% during the 2nd quarter. Principal Financial Group Inc. now owns 687,658 shares of the oil and gas company’s stock worth $18,704,000 after purchasing an additional 23,894 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of FMC Technologies during the 1st quarter worth approximately $1,676,000. Hedge funds and other institutional investors own 65.35% 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.

Analyst Recommendations for FMC Technologies (NYSE:FTI)

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