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

Shares of Flotek Industries, Inc. (NYSE:FTK) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $21.3333.

FTK has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Zacks Research downgraded shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd.

Insider Activity

In other news, CFO James Bond Clement sold 12,554 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $20.08, for a total value of $252,084.32. Following the transaction, the chief financial officer owned 115,324 shares in the company, valued at approximately $2,315,705.92. The trade was a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Masters Capital Management LLC lifted its position in shares of Flotek Industries by 8.9% in the 1st quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company’s stock worth $18,488,000 after purchasing an additional 89,438 shares during the period. Sei Investments Co. lifted its position in shares of Flotek Industries by 100.0% in the 1st quarter. Sei Investments Co. now owns 76,076 shares of the oil and gas company’s stock worth $1,291,000 after purchasing an additional 38,038 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Flotek Industries by 71.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company’s stock worth $11,736,000 after purchasing an additional 288,064 shares during the period. Principal Financial Group Inc. lifted its position in shares of Flotek Industries by 10.4% in the 1st quarter. Principal Financial Group Inc. now owns 80,480 shares of the oil and gas company’s stock worth $1,366,000 after purchasing an additional 7,564 shares during the period. Finally, Kornitzer Capital Management Inc. KS acquired a new position in shares of Flotek Industries during the 1st quarter valued at $876,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Trading Up 1.5%

FTK opened at $20.25 on Tuesday. Flotek Industries has a fifty-two week low of $10.95 and a fifty-two week high of $22.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.62. The firm has a market capitalization of $732.50 million, a price-to-earnings ratio of 25.96 and a beta of 1.43. The company’s 50 day moving average price is $17.42 and its two-hundred day moving average price is $16.90.

Flotek Industries (NYSE:FTK) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%.The business had revenue of $70.05 million for the quarter, compared to the consensus estimate of $63.08 million. As a group, research analysts predict that Flotek Industries will post 0.6 earnings per share for the current year.

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.