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

Shares of Flotek Industries, Inc. (NYSE:FTK) have been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $28.3333.

A number of analysts have recently weighed in on FTK shares. JonesTrading started coverage on shares of Flotek Industries in a report on Thursday, July 9th. They set a “buy” rating and a $40.00 price target for the company. Weiss Ratings raised shares of Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th.

Insider Buying and Selling at Flotek Industries

In other Flotek Industries news, CFO James Bond Clement sold 12,554 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $20.08, for a total value of $252,084.32. Following the sale, the chief financial officer owned 115,324 shares of the company’s stock, valued at approximately $2,315,705.92. This trade represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Flotek Industries

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of Flotek Industries during the 2nd quarter worth $1,160,000. Masters Capital Management LLC grew its position in Flotek Industries by 8.9% in the first quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company’s stock valued at $18,488,000 after acquiring an additional 89,438 shares during the last quarter. Sei Investments Co. raised its stake in Flotek Industries by 100.0% during the first quarter. Sei Investments Co. now owns 76,076 shares of the oil and gas company’s stock worth $1,291,000 after acquiring an additional 38,038 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Flotek Industries by 71.4% during the first quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company’s stock worth $11,736,000 after acquiring an additional 288,064 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Flotek Industries by 10.4% during the first quarter. Principal Financial Group Inc. now owns 80,480 shares of the oil and gas company’s stock worth $1,366,000 after acquiring an additional 7,564 shares in the last quarter. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Stock Down 0.7%

FTK stock opened at $35.18 on Monday. Flotek Industries has a 52 week low of $10.95 and a 52 week high of $37.53. The business has a 50-day simple moving average of $24.79 and a 200 day simple moving average of $19.89. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.27 billion, a PE ratio of 35.54 and a beta of 1.43.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. Flotek Industries had a net margin of 12.97% and a return on equity of 21.57%. The firm had revenue of $99.37 million for the quarter, compared to the consensus estimate of $69.51 million. Sell-side analysts anticipate that Flotek Industries will post 0.7 EPS for the current fiscal 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.