FMC Technologies, Inc. (NYSE:FTI) had its price objective reduced by equities research analysts at Citigroup Inc. from $34.60 to $29.40 in a report released on Monday. The firm currently has a “neutral” rating on the oil and gas company’s stock. Citigroup Inc.’s target price would indicate a potential upside of 8.65% from the stock’s current price.

FTI has been the topic of several other research reports. ValuEngine lowered shares of FMC Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada raised shares of FMC Technologies from a “sector perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a report on Friday, August 25th. Cowen and Company reaffirmed a “buy” rating and issued a $32.00 target price on shares of FMC Technologies in a report on Tuesday, July 11th. Scotiabank set a $36.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Piper Jaffray Companies set a $32.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $34.61.

Shares of FMC Technologies (FTI) traded up 1.15% during mid-day trading on Monday, reaching $27.37. 1,576,166 shares of the company traded hands. The stock’s 50 day moving average is $26.45 and its 200 day moving average is $29.31. FMC Technologies has a 52-week low of $25.17 and a 52-week high of $36.14. The stock has a market capitalization of $12.78 billion, a PE ratio of 33.10 and a beta of 0.93.

FMC Technologies (NYSE:FTI) last posted its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ 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.

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A number of institutional investors have recently added to or reduced their stakes in FTI. BlackRock Inc. lifted its position in FMC Technologies by 3,127.8% during the 1st quarter. BlackRock Inc. now owns 20,159,977 shares of the oil and gas company’s stock valued at $655,198,000 after purchasing an additional 19,535,400 shares during the period. OppenheimerFunds Inc. lifted its position in FMC Technologies by 5,960.8% during the 1st quarter. OppenheimerFunds Inc. now owns 13,171,232 shares of the oil and gas company’s stock valued at $428,601,000 after purchasing an additional 12,953,913 shares during the period. First Eagle Investment Management LLC lifted its position in FMC Technologies by 53.2% during the 2nd 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 purchasing an additional 10,617,891 shares during the period. AXA lifted its position in FMC Technologies by 63,654.7% during the 1st quarter. AXA now owns 7,475,236 shares of the oil and gas company’s stock valued at $242,945,000 after purchasing an additional 7,463,511 shares during the period. Finally, State Street Corp lifted its position in FMC Technologies by 48.1% during the 1st quarter. State Street Corp now owns 20,471,445 shares of the oil and gas company’s stock valued at $665,332,000 after purchasing an additional 6,648,002 shares during the period. Institutional investors own 65.35% 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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