Flotek Industries, Inc. (FTK) Shares Bought by State Street Corp
State Street Corp lifted its holdings in shares of Flotek Industries, Inc. (NYSE:FTK) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,299,110 shares of the oil and gas company’s stock after purchasing an additional 44,475 shares during the period. State Street Corp owned 2.27% of Flotek Industries worth $11,615,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in FTK. Teachers Advisors LLC raised its stake in Flotek Industries by 2.2% during the 1st quarter. Teachers Advisors LLC now owns 110,899 shares of the oil and gas company’s stock worth $1,418,000 after buying an additional 2,388 shares during the period. Vanguard Group Inc. raised its stake in Flotek Industries by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 4,885,959 shares of the oil and gas company’s stock worth $62,491,000 after buying an additional 330,179 shares during the period. Geode Capital Management LLC raised its stake in Flotek Industries by 9.4% during the 1st quarter. Geode Capital Management LLC now owns 419,346 shares of the oil and gas company’s stock worth $5,363,000 after buying an additional 35,944 shares during the period. BlackRock Inc. raised its stake in Flotek Industries by 132,538.6% during the 1st quarter. BlackRock Inc. now owns 6,760,587 shares of the oil and gas company’s stock worth $86,468,000 after buying an additional 6,755,490 shares during the period. Finally, KCG Holdings Inc. acquired a new position in Flotek Industries during the 1st quarter worth approximately $137,000. Institutional investors own 91.08% of the company’s stock.
A number of research firms recently weighed in on FTK. BidaskClub raised Flotek Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Flotek Industries from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 20th.
Flotek Industries (NYSE:FTK) last issued its quarterly earnings data on Wednesday, November 8th. The oil and gas company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $79.46 million during the quarter, compared to analysts’ expectations of $85.10 million. Flotek Industries had a negative return on equity of 1.64% and a negative net margin of 10.41%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. analysts anticipate that Flotek Industries, Inc. will post -0.12 EPS for the current fiscal year.
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Flotek Industries 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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