NBW Capital LLC lowered its position in Flotek Industries Inc (NYSE:FTK) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,482 shares of the oil and gas company’s stock after selling 28,070 shares during the period. NBW Capital LLC owned about 0.41% of Flotek Industries worth $1,083,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in FTK. Voya Investment Management LLC raised its holdings in shares of Flotek Industries by 12.6% in the second quarter. Voya Investment Management LLC now owns 26,828 shares of the oil and gas company’s stock valued at $240,000 after purchasing an additional 3,007 shares during the last quarter. State Street Corp raised its holdings in shares of Flotek Industries by 3.5% in the second quarter. State Street Corp now owns 1,299,110 shares of the oil and gas company’s stock valued at $11,615,000 after purchasing an additional 44,475 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Flotek Industries by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 43,450 shares of the oil and gas company’s stock valued at $388,000 after purchasing an additional 744 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Flotek Industries in the third quarter valued at about $110,000. Finally, Boston Partners raised its holdings in shares of Flotek Industries by 141.4% in the third quarter. Boston Partners now owns 916,580 shares of the oil and gas company’s stock valued at $4,262,000 after purchasing an additional 536,940 shares during the last quarter. Institutional investors own 77.54% of the company’s stock.
Shares of Flotek Industries Inc (NYSE:FTK) opened at $6.44 on Monday. Flotek Industries Inc has a 1-year low of $4.14 and a 1-year high of $13.06.
Several brokerages have recently commented on FTK. ValuEngine downgraded shares of Flotek Industries from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Wednesday, February 21st.
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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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