Flotek Industries, Inc. (NYSE:FTK) Receives Average Rating of “Moderate Buy” from Analysts

Flotek Industries, Inc. (NYSE:FTK) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $21.3333.

A number of research analysts have weighed in on the stock. Lake Street Capital assumed coverage on shares of Flotek Industries in a research note on Thursday, January 29th. They issued a “buy” rating and a $25.00 price target on the stock. Weiss Ratings raised shares of Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Zacks Research lowered shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd.

Flotek Industries Stock Performance

FTK stock opened at $20.54 on Friday. The business’s 50-day moving average price is $16.73 and its two-hundred day moving average price is $16.59. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34. The firm has a market cap of $743.03 million, a PE ratio of 26.33 and a beta of 1.39. Flotek Industries has a 1-year low of $10.95 and a 1-year high of $20.63.

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 the consensus estimate of $0.13 by ($0.01). The business had revenue of $70.05 million for the quarter, compared to the consensus estimate of $63.08 million. Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%. As a group, research analysts forecast that Flotek Industries will post 0.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 sale, the chief financial officer directly owned 122,837 shares in the company, valued at $1,967,848.74. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Trading of Flotek Industries

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Flotek Industries by 304.4% in the third quarter. Millennium Management LLC now owns 809,398 shares of the oil and gas company’s stock valued at $11,817,000 after purchasing an additional 609,268 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Flotek Industries by 71.4% in the first quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company’s stock valued at $11,736,000 after purchasing an additional 288,064 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Flotek Industries by 41.6% in the fourth quarter. Royce & Associates LP now owns 507,125 shares of the oil and gas company’s stock valued at $8,738,000 after purchasing an additional 148,876 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Flotek Industries in the second quarter valued at about $4,436,000. Finally, CenterBook Partners LP lifted its holdings in shares of Flotek Industries by 64.7% in the fourth quarter. CenterBook Partners LP now owns 289,026 shares of the oil and gas company’s stock valued at $4,980,000 after purchasing an additional 113,507 shares in the last quarter. 10.90% of the stock is currently owned by institutional investors.

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.