State of Wyoming Takes $548,000 Position in Flotek Industries, Inc. $FTK

State of Wyoming purchased a new position in Flotek Industries, Inc. (NYSE:FTK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 37,132 shares of the oil and gas company’s stock, valued at approximately $548,000. State of Wyoming owned approximately 0.12% of Flotek Industries as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTK. Police & Firemen s Retirement System of New Jersey bought a new position in Flotek Industries during the 2nd quarter worth approximately $50,000. New York State Common Retirement Fund bought a new stake in shares of Flotek Industries in the 2nd quarter valued at approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flotek Industries during the 2nd quarter valued at approximately $115,000. D Orazio & Associates Inc. bought a new position in Flotek Industries during the second quarter worth $153,000. Finally, XTX Topco Ltd bought a new position in Flotek Industries during the second quarter worth $208,000. 10.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FTK. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a research note on Monday, December 8th. Wall Street Zen lowered shares of Flotek Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Flotek Industries presently has an average rating of “Buy” and a consensus price target of $17.50.

Flotek Industries Price Performance

Shares of FTK opened at $15.63 on Tuesday. Flotek Industries, Inc. has a 12 month low of $6.05 and a 12 month high of $18.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.77 and a quick ratio of 1.54. The stock has a fifty day moving average price of $15.60 and a 200 day moving average price of $14.15. The company has a market cap of $469.81 million, a P/E ratio of 17.56 and a beta of 1.46.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $56.03 million during the quarter, compared to the consensus estimate of $52.90 million. Flotek Industries had a net margin of 14.48% and a return on equity of 22.62%. On average, research analysts forecast that Flotek Industries, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Flotek Industries

In other Flotek Industries news, Director Harshavardhan V. Agadi sold 66,956 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $14.71, for a total transaction of $984,922.76. Following the completion of the transaction, the director directly owned 197,265 shares of the company’s stock, valued at $2,901,768.15. The trade was a 25.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.02% of the stock is owned by insiders.

Flotek Industries Company Profile

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).