Citigroup Inc. upgraded shares of FMC Technologies, Inc. (NYSE:FTI) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Citigroup Inc. currently has $30.00 price objective on the oil and gas company’s stock, up from their prior price objective of $26.00.

A number of other research firms also recently issued reports on FTI. ValuEngine downgraded shares of FMC Technologies from a buy rating to a hold rating in a research note on Friday, September 1st. UBS AG reissued a buy rating and issued a $36.00 price target (down from $40.00) on shares of FMC Technologies in a research note on Monday, July 31st. BMO Capital Markets reissued a hold rating and issued a $35.00 price target on shares of FMC Technologies in a research note on Thursday, June 22nd. Seaport Global Securities downgraded shares of FMC Technologies from a buy rating to a neutral rating and reduced their price target for the company from $40.00 to $26.00 in a research note on Wednesday, June 21st. Finally, BidaskClub downgraded shares of FMC Technologies from a sell rating to a strong sell rating in a research note on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $34.62.

FMC Technologies (NYSE:FTI) opened at 27.47 on Monday. FMC Technologies has a 12 month low of $25.17 and a 12 month high of $37.09. The stock’s 50 day moving average is $26.51 and its 200-day moving average is $28.84. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 33.22 and a beta of 0.95.

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

TRADEMARK VIOLATION NOTICE: “FMC Technologies, Inc. (FTI) Lifted to “Buy” at Citigroup Inc.” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/10/06/fmc-technologies-inc-fti-lifted-to-buy-at-citigroup-inc.html.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gateway Investment Advisers LLC increased its stake in FMC Technologies by 0.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 28,794 shares of the oil and gas company’s stock worth $783,000 after buying an additional 107 shares during the period. Louisiana State Employees Retirement System grew its holdings in FMC Technologies by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the oil and gas company’s stock worth $786,000 after acquiring an additional 200 shares in the last quarter. Conning Inc. grew its holdings in FMC Technologies by 2.7% during the 2nd quarter. Conning Inc. now owns 7,665 shares of the oil and gas company’s stock worth $208,000 after acquiring an additional 200 shares in the last quarter. Bank of Nova Scotia grew its holdings in FMC Technologies by 2.8% during the 2nd quarter. Bank of Nova Scotia now owns 11,204 shares of the oil and gas company’s stock worth $305,000 after acquiring an additional 300 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. grew its holdings in FMC Technologies by 4.8% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 8,225 shares of the oil and gas company’s stock worth $224,000 after acquiring an additional 379 shares in the last quarter. 65.35% of the stock is currently owned by hedge funds and other institutional investors.

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)

Receive News & Stock Ratings for FMC Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC Technologies Inc. and related stocks with our FREE daily email newsletter.