Insider Buying: Flotek Industries, Inc. (NYSE:FTK) Director Acquires $384,205.10 in Stock

Flotek Industries, Inc. (NYSE:FTK) Director Matthew Wilks acquired 32,810 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of $11.71 per share, for a total transaction of $384,205.10. Following the purchase, the director now directly owns 72,006 shares of the company’s stock, valued at approximately $843,190.26. This trade represents a 83.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Matthew Wilks also recently made the following trade(s):

• On Monday, May 12th, Matthew Wilks purchased 103,514 shares of Flotek Industries stock. The stock was acquired at an average price of $12.24 per share, for a total transaction of $1,267,011.36.

Flotek Industries Stock Up 4.8%

Shares of NYSE:FTK opened at $15.39 on Friday. The firm has a fifty day moving average of $8.36 and a two-hundred day moving average of $8.23. The firm has a market capitalization of $459.04 million, a P/E ratio of 59.19 and a beta of 1.00. Flotek Industries, Inc. has a 12-month low of $3.39 and a 12-month high of $15.72.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Truist Financial Corp increased its holdings in shares of Flotek Industries by 3.6% during the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 8,500 shares during the period. Barclays PLC bought a new position in shares of Flotek Industries during the 3rd quarter worth about $66,000. Renaissance Technologies LLC boosted its position in shares of Flotek Industries by 306.2% during the 4th quarter. Renaissance Technologies LLC now owns 85,700 shares of the oil and gas company’s stock valued at $817,000 after acquiring an additional 64,600 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Flotek Industries during the 4th quarter valued at about $454,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Flotek Industries during the 4th quarter valued at about $182,000. Institutional investors own 10.90% of the company’s stock.

Analyst Ratings Changes

Separately, Singular Research raised shares of Flotek Industries to a “moderate buy” rating in a research note 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).