Flotek Industries, Inc. (FTK) Position Decreased by Morgan Stanley
Morgan Stanley lowered its position in shares of Flotek Industries, Inc. (NYSE:FTK) by 28.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 138,610 shares of the oil and gas company’s stock after selling 55,924 shares during the period. Morgan Stanley owned about 0.24% of Flotek Industries worth $1,773,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $626,000. Teachers Advisors LLC boosted its stake in shares of Flotek Industries by 12.5% in the fourth quarter. Teachers Advisors LLC now owns 108,511 shares of the oil and gas company’s stock valued at $1,019,000 after buying an additional 12,050 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Flotek Industries by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 22,100 shares of the oil and gas company’s stock valued at $283,000 after buying an additional 400 shares during the period. Hartford Investment Management Co. boosted its stake in shares of Flotek Industries by 7.6% in the first quarter. Hartford Investment Management Co. now owns 18,500 shares of the oil and gas company’s stock valued at $237,000 after buying an additional 1,300 shares during the period. Finally, First Mercantile Trust Co. acquired a new stake in shares of Flotek Industries during the first quarter valued at approximately $112,000. Institutional investors and hedge funds own 96.74% of the company’s stock.
Shares of Flotek Industries, Inc. (NYSE FTK) traded up 1.863% during trading on Thursday, reaching $5.195. The company had a trading volume of 285,732 shares. The firm’s market capitalization is $297.84 million. The company has a 50 day moving average of $7.32 and a 200-day moving average of $10.13. Flotek Industries, Inc. has a 52-week low of $4.91 and a 52-week high of $16.93.
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FTK has been the topic of several research reports. Zacks Investment Research upgraded shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, May 8th. Seaport Global Securities reiterated a “buy” rating on shares of Flotek Industries in a research report on Thursday, July 20th. ValuEngine cut shares of Flotek Industries from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Flotek Industries from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th.
Flotek Industries Company Profile
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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