Q2 2018 EPS Estimates for Flotek Industries, Inc. Increased by Seaport Global Securities (FTK)
Flotek Industries, Inc. (NYSE:FTK) – Investment analysts at Seaport Global Securities boosted their Q2 2018 EPS estimates for shares of Flotek Industries in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst S. Randhawa now anticipates that the oil and gas company will post earnings of $0.12 per share for the quarter, up from their prior forecast of $0.11. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Flotek Industries’ Q1 2019 earnings at $0.20 EPS and Q2 2019 earnings at $0.19 EPS.
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Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Flotek Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded Flotek Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, ValuEngine downgraded Flotek Industries from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd.
Shares of Flotek Industries (FTK) traded down 7.245% during mid-day trading on Thursday, hitting $4.545. The company’s stock had a trading volume of 837,363 shares. The company has a 50-day moving average of $5.64 and a 200 day moving average of $9.23. The company’s market cap is $260.57 million. Flotek Industries has a 1-year low of $4.54 and a 1-year high of $15.23.
Large investors have recently modified their holdings of the stock. Viking Fund Management LLC acquired a new stake in Flotek Industries during the second quarter worth approximately $4,559,000. Swiss National Bank grew its position in Flotek Industries by 5.0% during the first quarter. Swiss National Bank now owns 88,500 shares of the oil and gas company’s stock worth $1,132,000 after buying an additional 4,200 shares in the last quarter. Skylands Capital LLC grew its position in Flotek Industries by 188.2% during the second quarter. Skylands Capital LLC now owns 210,800 shares of the oil and gas company’s stock worth $1,885,000 after buying an additional 137,650 shares in the last quarter. Stephens Inc. AR grew its position in Flotek Industries by 2.4% during the first quarter. Stephens Inc. AR now owns 409,711 shares of the oil and gas company’s stock worth $5,240,000 after buying an additional 9,435 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Flotek Industries by 3,092.1% during the second quarter. JPMorgan Chase & Co. now owns 4,058,817 shares of the oil and gas company’s stock worth $36,286,000 after buying an additional 3,931,665 shares in the last quarter. 96.74% of the stock is currently owned by institutional investors and hedge funds.
About Flotek Industries
Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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