Flotek Industries, Inc. (NYSE:FTK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Flotek Industries, Inc. (NYSE:FTK) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $21.3333.

FTK has been the topic of several recent research reports. Lake Street Capital initiated coverage on shares of Flotek Industries in a research report on Thursday, January 29th. They set a “buy” rating and a $25.00 price target on the stock. Zacks Research downgraded shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Northland Securities reissued an “outperform” rating and issued a $20.00 price target on shares of Flotek Industries in a research note on Wednesday, December 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Flotek Industries in a report on Monday, December 29th. Finally, Wall Street Zen cut Flotek Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 16th.

Institutional Investors Weigh In On Flotek Industries

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of Flotek Industries by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 770 shares during the period. First Trust Advisors LP increased its holdings in Flotek Industries by 3.2% in the 4th quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company’s stock valued at $749,000 after purchasing an additional 1,335 shares during the last quarter. Barclays PLC raised its position in Flotek Industries by 6.5% in the fourth quarter. Barclays PLC now owns 22,204 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 1,351 shares during the period. Informed Momentum Co LLC raised its position in Flotek Industries by 2.2% in the fourth quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company’s stock valued at $1,102,000 after purchasing an additional 1,366 shares during the period. Finally, Aristides Capital LLC lifted its stake in Flotek Industries by 4.6% during the fourth quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 1,390 shares in the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Flotek Industries Stock Performance

NYSE FTK opened at $16.58 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.77. The stock’s fifty day moving average is $17.29 and its two-hundred day moving average is $15.31. The firm has a market capitalization of $498.52 million, a P/E ratio of 18.63 and a beta of 1.44. Flotek Industries has a fifty-two week low of $6.05 and a fifty-two week high of $20.09.

Flotek Industries Company Profile

Flotek Industries, Inc (NYSE: FTK) is a Houston-based oilfield services provider specializing in innovative chemical technologies for the upstream energy sector. The company develops, manufactures and markets specialty drilling fluids, completion fluids and production chemicals that enhance drilling efficiency, optimize well performance and mitigate operational risks. Flotek’s solutions are designed to improve drilling rates of penetration, reduce nonproductive time and address challenging downhole environments, including high-pressure/high-temperature wells and sour service conditions.

Flotek’s operations are organized into three core business segments: Drilling & Completion Fluids, Production Chemicals & Process Management, and Water Solutions.