FMC Technologies, Inc. (NYSE:FTI) has received an average rating of “Buy” from the twenty brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $35.88.

FTI has been the topic of a number of analyst reports. ValuEngine cut FMC Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Scotiabank set a $37.00 target price on FMC Technologies and gave the company a “buy” rating in a research report on Monday, May 1st. Seaport Global Securities upgraded FMC Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $35.00 to $40.00 in a research report on Thursday, April 20th. Sanford C. Bernstein upgraded FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 target price on the stock in a research report on Tuesday, May 16th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $37.00 target price on shares of FMC Technologies in a research report on Friday, June 2nd.

In other FMC Technologies news, EVP Bradley D. Beitler sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the transaction, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maryann T. Mannen sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was 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 in the company, valued at $9,030,421.20. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its position in FMC Technologies by 53.2% in the second quarter. First Eagle Investment Management LLC now owns 30,585,688 shares of the oil and gas company’s stock worth $831,931,000 after buying an additional 10,617,891 shares during the period. Vanguard Group Inc. raised its position in FMC Technologies by 3.4% in the second quarter. Vanguard Group Inc. now owns 27,167,998 shares of the oil and gas company’s stock worth $738,969,000 after buying an additional 896,416 shares during the period. BlackRock Inc. raised its position in FMC Technologies by 7.8% in the second quarter. BlackRock Inc. now owns 21,731,728 shares of the oil and gas company’s stock worth $591,104,000 after buying an additional 1,571,751 shares during the period. State Street Corp raised its position in FMC Technologies by 2.0% in the second quarter. State Street Corp now owns 20,888,596 shares of the oil and gas company’s stock worth $568,171,000 after buying an additional 417,151 shares during the period. Finally, OppenheimerFunds Inc. raised 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 period. 65.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of FMC Technologies (NYSE FTI) traded up 0.7043% during trading on Friday, hitting $25.7501. The stock had a trading volume of 1,422,884 shares. The firm has a market cap of $12.03 billion, a P/E ratio of 31.1368 and a beta of 0.92. FMC Technologies has a 12-month low of $25.45 and a 12-month high of $36.14. The firm has a 50 day moving average price of $27.48 and a 200 day moving average price of $30.24.

FMC Technologies (NYSE:FTI) last posted its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.80 billion. On average, equities analysts expect that FMC Technologies will post $1.06 earnings per share for the current fiscal year.

FMC Technologies declared that its board has authorized a share buyback program on Wednesday, April 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 135% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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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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