Flotek Industries, Inc. (NYSE:FTK) Receives $21.33 Consensus Price Target from Analysts

Shares of Flotek Industries, Inc. (NYSE:FTK) have earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $21.3333.

FTK has been the topic of a number of research reports. Wall Street Zen cut shares of Flotek Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Lake Street Capital assumed coverage on shares of Flotek Industries in a research note on Thursday, January 29th. They set a “buy” rating and a $25.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Flotek Industries in a research note on Monday, December 29th. Zacks Research lowered Flotek Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Northland Securities reiterated an “outperform” rating and set a $20.00 price target on shares of Flotek Industries in a research report on Wednesday, December 31st.

Flotek Industries Stock Down 3.0%

NYSE:FTK opened at $15.31 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.77. The company has a market capitalization of $460.31 million, a price-to-earnings ratio of 17.21 and a beta of 1.44. Flotek Industries has a one year low of $6.05 and a one year high of $20.09. The stock has a 50-day simple moving average of $17.31 and a 200 day simple moving average of $15.40.

Insider Transactions at Flotek Industries

In related news, CFO James Bond Clement sold 6,299 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total value of $100,909.98. Following the sale, the chief financial officer owned 122,837 shares of the company’s stock, valued at $1,967,848.74. This trade represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.02% of the company’s stock.

Institutional Investors Weigh In On Flotek Industries

Several large investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Flotek Industries during the second quarter valued at approximately $50,000. Quarry LP raised its stake in Flotek Industries by 97.2% during the 3rd quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 1,900 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Flotek Industries during the 2nd quarter worth $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Flotek Industries during the 2nd quarter worth $115,000. Finally, Deutsche Bank AG bought a new position in shares of Flotek Industries in the fourth quarter worth $150,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

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.