OMERS ADMINISTRATION Corp Takes $395,000 Position in Flotek Industries, Inc. (NYSE:FTK)

OMERS ADMINISTRATION Corp bought a new stake in Flotek Industries, Inc. (NYSE:FTK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 41,500 shares of the oil and gas company’s stock, valued at approximately $395,000. OMERS ADMINISTRATION Corp owned 0.14% of Flotek Industries as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FTK. Millennium Management LLC acquired a new position in Flotek Industries during the fourth quarter worth approximately $465,000. Jefferies Financial Group Inc. increased its holdings in shares of Flotek Industries by 56.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 50,000 shares of the oil and gas company’s stock worth $476,000 after acquiring an additional 18,000 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Flotek Industries during the 4th quarter worth approximately $407,000. Bridgeway Capital Management LLC raised its stake in Flotek Industries by 5.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 72,259 shares of the oil and gas company’s stock valued at $689,000 after acquiring an additional 3,600 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in Flotek Industries during the 4th quarter valued at $99,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Flotek Industries Stock Down 1.9%

Shares of FTK stock opened at $15.34 on Tuesday. Flotek Industries, Inc. has a 12-month low of $3.55 and a 12-month high of $15.96. The company has a market capitalization of $457.55 million, a PE ratio of 59.00 and a beta of 1.00. The firm has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $8.43.

Flotek Industries (NYSE:FTK) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. The company had revenue of $55.36 million for the quarter, compared to analyst estimates of $44.50 million. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. As a group, research analysts expect that Flotek Industries, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other Flotek Industries news, Director Matthew Wilks bought 103,514 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $12.24 per share, for a total transaction of $1,267,011.36. Following the transaction, the director now directly owns 144,350 shares in the company, valued at approximately $1,766,844. This trade represents a 253.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 149,766 shares of company stock worth $1,841,758 in the last 90 days. Company insiders own 2.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Singular Research upgraded shares of Flotek Industries to a “moderate buy” rating in a report on Monday, March 17th.

Flotek Industries Company Profile

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).