Viking Fund Management buys $22,021,500 stake in FMC Technologies (FTI)

FMC Technologies (FTI) : Viking Fund Management scooped up 170,000 additional shares in FMC Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 795,000 shares of FMC Technologies which is valued at $22,021,500.FMC Technologies makes up approximately 4.17% of Viking Fund Management’s portfolio.

FMC Technologies closed down -0.53 points or -1.88% at $27.7 with 26,86,724 shares getting traded on Friday. Post opening the session at $27.92, the shares hit an intraday low of $27.19 and an intraday high of $27.92 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Banced Corp sold out all of its stake in FTI during the most recent quarter. The investment firm sold 7,444 shares of FTI which is valued $206,199.Dnb Asset Management As reduced its stake in FTI by selling 3,200 shares or 23.38% in the most recent quarter. The Hedge Fund company now holds 10,486 shares of FTI which is valued at $290,462. FMC Technologies makes up approx 0.01% of Dnb Asset Management As’s portfolio. Proficio Capital Partners sold out all of its stake in FTI during the most recent quarter. The investment firm sold 31 shares of FTI which is valued $844. Mai Capital Management sold out all of its stake in FTI during the most recent quarter. The investment firm sold 14,097 shares of FTI which is valued $383,861.

On the company’s financial health, FMC Technologies reported $0.46 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 16, 2016. Analyst had a consensus of $0.48. The company had revenue of $1427.30 million for the quarter, compared to analysts expectations of $1551.31 million. The company’s revenue was down -33.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on FMC Technologies. FMC Technologies was Initiated by Nomura to “Neutral” on Apr 8, 2016. FMC Technologies was Upgraded by Goldman to ” Buy” on Mar 11, 2016. Shares were Reiterated by FBR Capital on Feb 29, 2016 to “Mkt Perform” and Lowered the Price Target to $ 28 from a previous price target of $31 .

FMC Technologies Inc. is a provider of technology solutions for the energy industry. The Company’s segments include Subsea Technologies Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. Surface Technologies designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and gas; designs manufactures and supplies high pressure valves and fittings for oilfield service companies and also provides flowback and wireline services for exploration companies. Energy Infrastructure manufactures and supplies liquid and gas measurement and transportation equipment and systems for the production transportation and processing of crude oil natural gas and petroleum-based refined products and the mining industry.

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