Showing posts with label FMC Technologies. Show all posts
Showing posts with label FMC Technologies. Show all posts

Monday, August 29, 2011

Tenaris (TS) (ENR) (FTI) (HOGS) (HOT) (REGN) Downgraded

Tenaris (NYSE: TS), Energizer Holdings, Inc. (NYSE: ENR), FMC Tech (NYSE: FTI), ZHONGPIN INC. (NASDAQ: HOGS), Starwood Hotels (NYSE: HOT) and Regeneron Pharmaceuticals (NASDAQ: REGN) downgraded by analysts.

Tenaris (TS) was downgraded by Guggenheim from a “Buy” rating to a “Neutral” rating.

Energizer Holdings, Inc. (ENR) was downgraded by Standpoint Research from a “Buy” rating to a “Hold” rating.

FMC Tech (FTI) was downgraded by Guggenheim from a “Buy” rating to a “Neutral” rating.

ZHONGPIN INC. (HOGS) was downgraded by Global Hunter Securities from a “Neutral” rating to a “Reduce” rating.

Starwood Hotels (HOT) was downgraded by Morgan Stanley (NYSE:MS) from an “Overweight” rating to an “Equal Weight” rating. They have a price target of $47.00 on the company, down from $71.00.

Regeneron Pharmaceuticals (REGN) was downgraded by Citigroup (NYSE:C) from a “Buy” rating to a “Hold” rating. They have a price target of $60.00 on the company.

Friday, May 20, 2011

Anadarko (APC) (BRY) (TAT) (FTI) (AXAS) Trade Mixed as Energy Falls

Shares of Anadarko (NYSE:APC), Berry Petroleum (NYSE:BRY), TransAtlantic Petroleum (AMEX:TAT), FMC Technologies, Inc. (NYSE:FTI) and Abraxas Petroleum Corp. (NASDAQ:AXAS) on Thursday as oil and gas were down on the day.

After the International Energy Agency expressed concerns about the effects of higher oil and gasoline prices on the global economy, oil fell in Thursday trading.

Benchmark crude for June delivery fell $1.63 to settle at $98.93 per barrel on the New York Mercantile Exchange.

June, heating oil fell 1.12 cents to settle at $2.8947 a gallon, gasoline dropped 2.95 cents to $2.926 a gallon and natural gas fell 10.5 cents to $4.161 per 1,000 cubic feet.

Berry Petroleum (BRY) closed Thursday at $48.89, gaining $0.55, or 1.14 percent.

Anadarko (APC) (BRY) (TAT) (FTI) (AXAS) Trade Mixed as Energy Falls

Shares of Anadarko (NYSE:APC), Berry Petroleum (NYSE:BRY), TransAtlantic Petroleum (AMEX:TAT), FMC Technologies, Inc. (NYSE:FTI) and Abraxas Petroleum Corp. (NASDAQ:AXAS) on Thursday as oil and gas were down on the day.

After the International Energy Agency expressed concerns about the effects of higher oil and gasoline prices on the global economy, oil fell in Thursday trading.

Benchmark crude for June delivery fell $1.63 to settle at $98.93 per barrel on the New York Mercantile Exchange.

June, heating oil fell 1.12 cents to settle at $2.8947 a gallon, gasoline dropped 2.95 cents to $2.926 a gallon and natural gas fell 10.5 cents to $4.161 per 1,000 cubic feet.

Berry Petroleum (BRY) closed Thursday at $48.89, gaining $0.55, or 1.14 percent.

Thursday, May 19, 2011

Bolt (BOLT) (FTI) (NOV) (DRQ) (FTK) Trade Up on Weak U.S. Dollar

Shares of oil companies Bolt Technology Corp. (NASDAQ:BOLT), FMC Technologies, Inc. (NYSE:FTI), National-Oilwell Varco, Inc. (NYSE:NOV), Dril-Quip, Inc. (NYSE:DRQ) and Flotek Industries, Inc. (NYSE:FTK) traded higher Wednesday after a report from the Energy Information Administration saying gas inventory was up less than expected and oil inventory was flat.

Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.

Retail gasoline prices continued to fall, dropping almost 2 cents on Wednesday for a national average of $3.926 a gallon. Gasoline demand continues to fall in wake of high prices at the pump.

Heating oil for June increased 6.08 cents to settle at $2.9059 a gallon and gasoline futures jumped 3.62 cents to settle at $2.9555 a gallon. Natural gas gained 2 cents at $4.266 per 1,000 cubic feet.

Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.

The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in oil prices going up, as well as other commodity prices as well.

The euro traded at $1.4233, strengthening after falling to $1.4193 and up slightly from its $1.4219 close on Tuesday.

Traders bought commodities, including oil, on the weaker greenback.

National-Oilwell Varco, Inc. (NOV) closed Wednesday at $67.74, gaining $2.34, or 3.58 percent.

Monday, May 16, 2011

Halliburton (HAL) (FTI) (CPE) (XCO) (DVN) Trade Mixed as Oil Prices Rebounded Friday

Shares of Halliburton (NYSE:HAL), FMC Technologies, Inc. (NYSE:FTI), Callon Petroleum (NYSE:CPE), Exco Resources Inc. (NYSE:XCO) and Devon Energy (NYSE:DVN) traded mixed even as oil prices closed Friday in positive territory.

On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.

For the week, front-month crude climbed $2.47, or 2.5 percent.

ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.

The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.

NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.

For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.

NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.

Front-month heating oil for last week was up 9.65 cents.

Halliburton (HAL) closed Friday at $46.00, falling $0.64, or 1.37 percent.

Wednesday, May 11, 2011

FMC Technologies, Inc. (NYSE:FTI) Trades Up as Oil, Gas Rise

FMC Technologies, Inc. (NYSE:FTI) traded up Tuesday as crude oil, natural gas and gasoline prices jumped, pushing up the share price of the company.

Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.

Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.

FMC Technologies, Inc. supplies technology solutions for the energy industry and other industrial markets.

FMC Technologies, Inc. (NYSE:FTI) closed Tuesday at $43.71, rising $0.71, or 1.65 percent.

Tuesday, May 10, 2011

Oasis (OAS) (WLL) (FTI) (GST) (APC) Trade Mixed as Oil Prices Rebound

Most oil and related companies performed strong Monday, as Oasis Petroleum (NYSE:OAS), Whiting Petroleum (NYSE:WLL), FMC Technologies, Inc. (NYSE:FTI), Gastar Exploration Ltd (AMEX:GST) and Anadarko (NYSE:APC) traded mixed as the price of oil rebounded.

Gastar was the only one of the list above to close down Monday.

Crude oil for June delivery climbed $5.37 to settle at $102.55 a barrel on the New York Mercantile Exchange, the largest one-day boost since February 22.

Brent crude for June settlement jumped $6.77, or 6.2 percent, to $115.90 a barrel on the London-based ICE Futures Europe exchange.

Wholesale gasoline prices soared 5 percent on Monday to $3.20 a gallon on fears that refineries in Mississippi may have to shut down because of the Mississippi River flooding.

The average U.S. price of a gallon of regular gasoline Monday fell by a penny to $3.96, according to AAA.

Immediate delivery futures of Texas crude oil rose $5.53 to $102.71 a barrel. Natural gas was up 0.06 cents to $4.17 per mbtu, while gasoline prices fell 20.17 cents to 329.18 cents a gallon.

Whiting Petroleum (WLL) closed Monday at $65.19, soaring $2.81, or 4.50 percent.

Monday, May 9, 2011

Shares of (MRO) (XCO) (HNR) (FTI) (HAL) Trade Mixed as Oil Closed Down 15% Last Week

Companies exposed to oil and the industry traded mixed to end the week, as oil prices plummeted 15 percent last week, taking Marathon Oil (NYSE:MRO), Exco Resources Inc. (NYSE:XCO), Harvest Natural Resources (NYSE:HNR), FMC Technologies, Inc. (NYSE:FTI) and Halliburton (NYSE:HAL), and others, down with it.

Light, sweet crude oil for June delivery on the New York Mercantile Exchange dropped $2.62 to settle at $97.18 a barrel, matching the eight-week low of March 15. The U.S. Oil Fund (USO) closed down 1.1 percent on Friday.

For the week, the June oil futures contract fell 14.7 percent to $113.93.

Light, sweet crude for June delivery fell $2.62, or 2.6%, to close at $97.18 a barrel on the New York Mercantile Exchange.

In London, Brent crude finished the day off $1.67 at $109.13 per barrel on the ICE Futures exchange.

Republicans went on the offensive against higher oil and gas prices by passing a bill to hasten the leasing process dragging on in the Gulf of Mexico as the Obama administration drag their feet on taking action. The bill would also require leasing to be allowed off the coast of Virginia.

According to Rep. Michael Burgess (R-Texas), the bill helped push down the price of oil as it sent a message to the market they're serious about the future supply.

All Obama has done so far has obsessed on the fantasy of green, clean or so-called alternative energy; a dubious matter at best, and at worst, ignoring what they country needs now and is available to it.

In other Nymex trading for June contracts, heating oil fell 4.12 cents to $2.8457 a U.S. gallon and gasoline futures were down 0.53 cents to $3.0901 a U.S. gallon. Natural gas fell 3.4 cents to $4.297 per 1,000 cubic feet.

FMC Technologies, Inc. (FTI) closed Friday at $42.04, dropping $0.61, or 1.43 percent.

Thursday, May 5, 2011

ConocoPhillips (COP) (ROSE) (BPL) (FTI) (FTK) Trade Down on Slowing Oil Demand

Oil companies and other industry-related companies Rosetta Resources (NASDAQ:ROSE), Buckeye Partners L.P. (NYSE:BPL), FMC Technologies, Inc. (NYSE:FTI), Flotek Industries, Inc. (NYSE:FTK) and ConocoPhillips (NYSE:COP) all closed down Wednesday as oil prices took a breather.

Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.

In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.

The U.S. dollar index shrunk 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.

Flotek Industries, Inc. (FTK) closed Wednesday at $8.84, falling $0.17, or 1.89 percent.

Wednesday, May 4, 2011

Chesapeake (CHK) (FTI) (SWN) (CWEI) (APA) Drop as Oil Prices Fall

Decreasing demand for fuel has pushed down oil inventories and the price of oil, putting pressure on FMC Technologies, Inc. (NYSE:FTI), Southwestern Energy (NYSE:SWN), Clayton Williams Energy (NASDAQ:CWEI), Chesapeake Energy Corp. (NYSE:CHK) and Apache Corp (NYSE:APA).

Light, sweet crude for June delivery settled down $2.47, or 2.2%, at $111.05 a barrel on the New York Mercantile Exchange. London Brent crude for June fell $2.67 to settle at $122.45 a barrel.

Front-month June reformulated gasoline blendstock, or RBOB, settled down $1.85 cents, or 0.6%, at $3.3294 a gallon. June heating oil lost 6.13 cents, or 1.9%, to settle at $3.1908 a gallon.

Gasoline prices on average across America have jumped to just under $4.00 a gallon, rising to $3.97 a gallon for regular gas, according to AAA.

Silver is considered the key catalyst for downward pressure on oil prices and trading, as it has become a proxy to some for risk appetite among commodity traders.

After selling out of silver commodity traders followed up with divesting of positions in oil as well.

Even so, it appears the slight strengthening of the U.S dollar played a bit role Tuesday as well.

Chesapeake Energy Corp. (CHK) closed Tuesday at $31.33, falling $1.90, or 5.72 percent.

Tuesday, May 3, 2011

Chevron (CVX) (FTI) (ROSE) (PETD) (HK) Trade Mixed on Volatile Energy Day

Shares of FMC Technologies, Inc. (NYSE:FTI), Rosetta Resources (NASDAQ:ROSE), PDC Energy (NASDAQ:PETD), Petrohawk Energy Corp. (NYSE:HK) and Chevron (NYSE:CVX) closed Mixed on the uncertainty following the death of Osama bin Laden.

Crude futures settled lower Monday after the death of Osama bin Laden stirred up oil markets, as traders attempted to measure the impact of the event on the stability in the Middle East.

Light, sweet crude for June delivery settled 41 cents, or 0.4%, lower at $113.52 a barrel on the New York Mercantile Exchange, in a volatile session that saw both two-and-a-half year highs near $115 a barrel and a decline to $110.82 a barrel.

Brent crude on the ICE futures exchange closed 77 cents lower at $125.12 a barrel.

Front-month June reformulated gasoline blendstock, or RBOB, settled 5.05 cents, or 1.5 percent down at $3.3479 a gallon. June heating oil settled 2.37 cents, or 0.7 percent lower at $3.2521 a gallon.

Chevron closed Monday at $108.18, dropping $1.26, or 1.15 percent.

Monday, May 2, 2011

Halliburton (HAL) (CWEI) (RRC) (FTI) (PTR) Trade Mixed on Gas, Oil Price Jumps

Halliburton (NYSE:HAL), Clayton Williams Energy (NASDAQ::CWEI), Range Resources (NYSE:RRC), FMC Technologies, Inc. (NYSE:FTI) and PetroChina (NYSE:PTR) close mix Friday as oil and gasoline prices jump again.

Nymex light, sweet crude oil for June delivery rose $1.07 a barrel, to $113.93 a barrel. That's the highest close in two-a-half-years.

On Nymex, reformulated gasoline blendstock futures for May delivery expired at $3.4648 a gallon, up 3.5 cents Friday. That is the highest level since July 14, 2008. Prices have soared 23.17 cents, or 7.2 percent, over the past week.

AAA Daily Fuel Gauge Report said the nationwide average price of regular gasoline was $3.909 a gallon Friday, up 6.1 cents from last week.

May heating oil expired at $3.2558 a gallon, up 2.42 cents, and the highest since April 8.

Tightening inventory and higher gasoline prices continue to push oil prices up. Another major factor, as it is with most commodities, is the ongoing collapse of the U.S. dollar. That will continue based on Federal Reserve chairman Ben Bernanke's comments he's not going to raise interest rates.

Halliburton closed Friday at $50.48, gaining $0.22, or 0.44 percent.

Friday, April 29, 2011

Fortinet (FTNT) (FLEX) (FTI) (CTXS) (EQIX) Price Targets Adjusted

Price targets on Fortinet, Inc. (NASDAQ: FTNT), Flextronics International Ltd. (NASDAQ: FLEX), FMC Tech (NYSE: FTI), Citrix Systems, Inc. (NASDAQ: CTXS) and Equinix, Inc. (NASDAQ: EQIX) adjusted by analysts.

Morgan Keegan raised their price target on Citrix Systems, Inc. (CTXS) from $80.00 to $90.00. They have an “outperform” rating on the company.

Stifel Nicolaus raised their price target on shares of Equinix, Inc. (EQIX) from $110.00 to $120.00. They have a “buy” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) cut their price target on Flextronics International Ltd. (FLEX) from $10.00 to $8.50. They have an “overweight” rating on the company.

Global Hunter Securities raised their price target on FMC Tech (FTI) from $43.50 to $49.00. They have a “neutral” rating on the company.

Needham & Company raised their price target on Fortinet, Inc. (FTNT) from $44.00 to $53.00. They have a “buy” rating on the company.

Anadarko (APC) (MRO) (FTI) (STR) (WLL) Close Mixed as Oil, Gas Rise

Anadarko (NYSE:APC), Marathon Oil (NYSE:MRO), FMC Technologies, Inc. (NYSE:FTI), Questar Corporation (NYSE:STR) and Whiting Petroleum (NYSE:WLL) closed mixed as oil, gasoline and natural gas moved up in price Thursday.

Oil settled higher in volatile trading Thursday, pushed up by a collapsing U.S. dollar. After soaring to close to $114 a barrel, West Texas Intermediate crude settled up 10 cents, at $112.86, in futures trading in New York.

Brent North Sea crude oil fell 11 cents to settle at $125.02 a barrel on the Ice Futures exchange.

In futures trading on the New York Mercantile Exchange, natural gas climbed 15.7 cents to settle at $4.63 per million British thermal units.

Gasoline for May delivery jumped 1.04 cents, or 0.3 percent, to $3.4298 a gallon, the highest settlement since July 14, 2008. Futures have risen 47 percent in the past year.

The Dollar Index fell to the lowest level since July 31, 2008. The index was down 0.5 percent to 73.139, its eighth straight daily decline.

Thursday, March 3, 2011

Petrobras (PBR) in $125 Million FMC (FTI) Equipment Order

FMC Technologies Inc. (NYSE:FTI) has been hopping over the last couple of days, as it has received a $125 million equipment order from Brazil energy giant Petrobras (NYSE:PBR), and also signed a 5-year subsea deal with BP (NYSE:BP).

With Petrobras, FMC will provide them with 32 subsea trees, which are valve systems used on wells to control oil flow.

FMC has had a significant relationship with Petrobras over the last couple of years, with this being the consummation of an order for 107 trees ordered by Petrobras in the early part of 2010.

The current trees are expected to start to be delivered in 2013.

Overall, FMC has delivered over 300 trees to projects operated by Petorbras, according to CEO John Gremp.

FMC closed Wednesday at $94.18, gaining $2.32, or 2.53 percent. Petrobras closed at $40.88, up $1.68, or 4.29 percent.

BP (BP) in 5-Year Subsea Deal with FMC (FTI)

BP (NYSE:BP) and FMC Technologies, Inc. (NYSE:FTI) have reached a five-year deal for FMC to provide subsea production systems and life-of-field services for the worldwide subsea development projects of BP.

John Gremp, President and Chief Executive Officer of FMC Technologies, noted, "We have a strong relationship with BP and have supported a number of their projects in the world's most active deepwater basins. This includes innovative developments such as Thunder Horse in the Gulf of Mexico and Greater Plutonio offshore West Africa, and we are excited to further strengthen our alliance with today's frame agreement."

FMC closed Wednesday at $94.18, gaining $2.32, or 2.53 percent. BP closed at $47.74, up $0.14, or 0.29 percent.

Thursday, December 30, 2010

FMC Technologies (NYSE:FTI) Poised for Another $1 Billion Quarter Says Pritchard

Pritchard Capital made a major upward change in the price target of FMC Technologies (NYSE:FTI), based on a solid EPS estimate.

Pritchard said, "We are raising our price target for FTI to $108 based on our 2012 EPS estimate of $4.32...In part, our confidence in that number stems from another $1 billion order quarter in Q4."

Pritchard Capital maintains a "Buy" on FMC Technologies, which closed Wednesday at $88.46, gaining $1.82, or 2.10 percent. They raised their price target on FMC from $80 to $108.