FMC Technologies, Inc. (NYSE:FTI) was downgraded by investment analysts at Sanford C. Bernstein from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $22.00 price objective on the oil and gas company’s stock, down from their previous price objective of $39.00. Sanford C. Bernstein’s price target points to a potential downside of 21.68% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Seaport Global Securities raised shares of FMC Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $35.00 to $40.00 in a report on Thursday, April 20th. ValuEngine cut shares of FMC Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Scotiabank set a $37.00 target price on shares of FMC Technologies and gave the company a “buy” rating in a report on Monday, May 1st. Royal Bank Of Canada reissued a “hold” rating and set a $41.00 target price on shares of FMC Technologies in a report on Wednesday, March 22nd. Finally, BMO Capital Markets set a $37.00 target price on shares of FMC Technologies and gave the company a “hold” rating in a report on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.60.

Shares of FMC Technologies (FTI) traded up 2.03% during midday trading on Thursday, reaching $28.09. The company had a trading volume of 2,891,914 shares. The firm has a market capitalization of $13.10 billion, a P/E ratio of 16.85 and a beta of 0.92. FMC Technologies has a one year low of $26.25 and a one year high of $36.14. The company has a 50 day moving average price of $29.03 and a 200-day moving average price of $32.11.

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In other news, CFO Maryann T. Mannen sold 6,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $29.20, for a total transaction of $189,800.00. Following the completion of the transaction, the chief financial officer now directly owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $32.00, for a total transaction of $384,000.00. Following the transaction, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at $2,812,352. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position 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 worth $655,198,000 after buying an additional 19,535,400 shares during the last quarter. OppenheimerFunds Inc. increased its position 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 worth $428,601,000 after buying an additional 12,953,913 shares during the last quarter. First Eagle Investment Management LLC increased its position 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 worth $648,953,000 after buying an additional 8,122,004 shares during the last quarter. AXA increased its position in 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 worth $242,945,000 after buying an additional 7,463,511 shares during the last quarter. Finally, State Street Corp increased its position 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 worth $665,332,000 after buying an additional 6,648,002 shares during the last quarter. 64.18% of the stock is owned by hedge funds and other institutional investors.

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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