Flotek Industries (NYSE:FTK) CFO James Bond Clement Sells 6,299 Shares of Stock

Flotek Industries, Inc. (NYSE:FTK) CFO James Bond Clement sold 6,299 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $16.02, for a total value of $100,909.98. Following the transaction, the chief financial officer directly owned 122,837 shares of the company’s stock, valued at $1,967,848.74. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Flotek Industries Stock Performance

Shares of NYSE FTK opened at $15.15 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.77 and a debt-to-equity ratio of 0.36. Flotek Industries, Inc. has a 12 month low of $6.05 and a 12 month high of $20.09. The company has a market cap of $455.41 million, a P/E ratio of 17.02 and a beta of 1.44. The business’s 50 day moving average is $17.33 and its two-hundred day moving average is $15.38.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Flotek Industries during the 2nd quarter worth $50,000. Quarry LP lifted its holdings in Flotek Industries by 97.2% during the 3rd quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock worth $56,000 after buying an additional 1,900 shares during the period. New York State Common Retirement Fund bought a new stake in Flotek Industries in the second quarter valued at approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flotek Industries in the 2nd quarter valued at $115,000. Finally, Deutsche Bank AG acquired a new stake in Flotek Industries during the 4th quarter worth about $150,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen lowered Flotek Industries from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a report on Monday, December 29th. Lake Street Capital started coverage on shares of Flotek Industries in a research report on Thursday, January 29th. They issued a “buy” rating and a $25.00 price objective for the company. Zacks Research cut shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Flotek Industries in a research report on Wednesday, December 31st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.33.

About Flotek Industries

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.