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

Shares of Flotek Industries, Inc. (NYSE:FTK) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $21.3333.

Several equities research analysts have recently commented on FTK shares. Weiss Ratings restated a “hold (c+)” rating on shares of Flotek Industries in a research note on Monday, December 29th. Zacks Research downgraded Flotek Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Lake Street Capital started coverage on Flotek Industries in a report on Thursday, January 29th. They set a “buy” rating and a $25.00 price target for the company. Finally, Northland Securities restated an “outperform” rating and issued a $20.00 price target on shares of Flotek Industries in a research report on Wednesday, December 31st.

Insider Activity

In related news, CFO James Bond Clement sold 6,299 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $16.02, for a total transaction of $100,909.98. Following the completion of the transaction, the chief financial officer directly owned 122,837 shares in the company, valued at approximately $1,967,848.74. The trade was a 4.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.02% of the company’s stock.

Hedge Funds Weigh In On Flotek Industries

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Flotek Industries by 3.6% in the third quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock worth $327,000 after purchasing an additional 770 shares during the period. First Trust Advisors LP raised its position in shares of Flotek Industries by 3.2% during the 4th quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company’s stock valued at $749,000 after purchasing an additional 1,335 shares during the period. Barclays PLC lifted its stake in shares of Flotek Industries by 6.5% during the 4th quarter. Barclays PLC now owns 22,204 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 1,351 shares in the last quarter. Informed Momentum Co LLC lifted its stake in shares of Flotek Industries by 2.2% during the 4th quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company’s stock valued at $1,102,000 after buying an additional 1,366 shares in the last quarter. Finally, Aristides Capital LLC boosted its holdings in Flotek Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock worth $541,000 after buying an additional 1,390 shares during the period. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Flotek Industries Stock Performance

Shares of NYSE FTK opened at $17.65 on Thursday. Flotek Industries has a 12-month low of $6.05 and a 12-month high of $20.41. The firm has a market capitalization of $638.25 million, a price-to-earnings ratio of 21.26 and a beta of 1.45. The company has a current ratio of 1.80, a quick ratio of 1.63 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $17.02 and a 200 day moving average of $16.04.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Wednesday, March 11th. The oil and gas company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.07). The business had revenue of $67.52 million during the quarter, compared to the consensus estimate of $53.37 million. Flotek Industries had a return on equity of 21.32% and a net margin of 12.87%. On average, research analysts anticipate that Flotek Industries will post 0.29 earnings per share for the current year.

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.