Masters Capital Management LLC Has $18.49 Million Stock Holdings in Flotek Industries, Inc. $FTK

Masters Capital Management LLC raised its position in Flotek Industries, Inc. (NYSE:FTK) by 8.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,089,438 shares of the oil and gas company’s stock after buying an additional 89,438 shares during the period. Masters Capital Management LLC’s holdings in Flotek Industries were worth $18,488,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTK. Goldman Sachs Group Inc. raised its position in shares of Flotek Industries by 27.9% during the first quarter. Goldman Sachs Group Inc. now owns 120,927 shares of the oil and gas company’s stock worth $1,007,000 after acquiring an additional 26,400 shares during the last quarter. Jane Street Group LLC boosted its holdings in Flotek Industries by 88.5% in the first quarter. Jane Street Group LLC now owns 100,151 shares of the oil and gas company’s stock valued at $834,000 after acquiring an additional 47,018 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Flotek Industries in the first quarter worth about $332,000. Rhumbline Advisers increased its position in Flotek Industries by 1,542.4% in the second quarter. Rhumbline Advisers now owns 21,630 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 20,313 shares during the period. Finally, American Century Companies Inc. raised its holdings in Flotek Industries by 26.3% during the 2nd quarter. American Century Companies Inc. now owns 39,140 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 8,139 shares during the last quarter. 10.90% of the stock is owned by institutional investors and hedge funds.

Flotek Industries Stock Performance

Shares of Flotek Industries stock opened at $25.85 on Monday. The firm has a fifty day moving average of $23.24 and a two-hundred day moving average of $19.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.83. The stock has a market capitalization of $935.40 million, a price-to-earnings ratio of 33.15 and a beta of 1.43. Flotek Industries, Inc. has a 52 week low of $10.95 and a 52 week high of $28.50.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%.The company had revenue of $70.05 million during the quarter, compared to the consensus estimate of $63.08 million. As a group, equities research analysts predict that Flotek Industries, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FTK. JonesTrading initiated coverage on shares of Flotek Industries in a research report on Thursday, July 9th. They set a “buy” rating and a $40.00 target price on the stock. Weiss Ratings upgraded shares of Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Insider Buying and Selling

In other Flotek Industries news, CFO James Bond Clement sold 12,554 shares of the stock in a transaction dated Monday, May 18th. The stock was 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 approximately $2,315,705.92. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% 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.