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

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

Separately, 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.

Flotek Industries Trading Up 0.2%

Shares of FTK opened at $23.58 on Tuesday. Flotek Industries has a twelve month low of $10.95 and a twelve month high of $25.54. The company has a market cap of $853.02 million, a P/E ratio of 30.23 and a beta of 1.43. 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 company’s fifty day simple moving average is $18.11 and its 200-day simple moving average is $17.21.

Flotek Industries (NYSE:FTK) last announced 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). Flotek Industries had a net margin of 11.83% and a return on equity of 20.70%. The firm had revenue of $70.05 million during the quarter, compared to analysts’ expectations of $63.08 million. As a group, analysts expect that Flotek Industries will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, CFO James Bond Clement sold 12,554 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $20.08, for a total value of $252,084.32. Following the transaction, the chief financial officer owned 115,324 shares of the company’s stock, valued at $2,315,705.92. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Masters Capital Management LLC increased its stake in Flotek Industries by 8.9% in the 1st quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company’s stock worth $18,488,000 after buying an additional 89,438 shares during the period. Millennium Management LLC increased its stake in Flotek Industries by 304.4% in the 3rd quarter. Millennium Management LLC now owns 809,398 shares of the oil and gas company’s stock worth $11,817,000 after buying an additional 609,268 shares during the period. Dimensional Fund Advisors LP increased its stake in Flotek Industries by 71.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company’s stock worth $11,736,000 after buying an additional 288,064 shares during the period. Royce & Associates LP increased its stake in Flotek Industries by 41.6% in the 4th quarter. Royce & Associates LP now owns 507,125 shares of the oil and gas company’s stock worth $8,738,000 after buying an additional 148,876 shares during the period. Finally, Invesco Ltd. purchased a new position in Flotek Industries in the 2nd quarter worth about $4,436,000. Hedge funds and other institutional investors own 10.90% of the company’s stock.

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.