Flotek Industries (NYSE:FTK) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Flotek Industries (NYSE:FTK) posted its quarterly earnings results on Tuesday. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05, Zacks reports. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%. Flotek Industries updated its FY 2025 guidance to EPS.

Flotek Industries Stock Down 3.6%

NYSE:FTK traded down $0.62 during trading hours on Tuesday, hitting $16.73. The stock had a trading volume of 505,264 shares, compared to its average volume of 405,391. The company has a current ratio of 1.59, a quick ratio of 1.36 and a debt-to-equity ratio of 0.55. Flotek Industries has a 1-year low of $5.20 and a 1-year high of $18.96. The business has a 50 day simple moving average of $14.24 and a two-hundred day simple moving average of $13.27. The company has a market cap of $499.58 million, a PE ratio of 38.03 and a beta of 1.18.

Insider Buying and Selling

In other Flotek Industries news, CEO Ryan Gillis Ezell sold 87,187 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $12.26, for a total transaction of $1,068,912.62. Following the completion of the sale, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. This trade represents a 35.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Bond Clement sold 45,732 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total transaction of $582,625.68. Following the sale, the chief financial officer directly owned 95,439 shares of the company’s stock, valued at $1,215,892.86. The trade was a 32.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flotek Industries

A number of hedge funds have recently bought and sold shares of FTK. Invesco Ltd. acquired a new position in shares of Flotek Industries in the 2nd quarter worth approximately $4,436,000. Marshall Wace LLP boosted its holdings in shares of Flotek Industries by 160.8% in the 2nd quarter. Marshall Wace LLP now owns 206,344 shares of the oil and gas company’s stock valued at $3,046,000 after buying an additional 127,215 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Flotek Industries by 27.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 120,927 shares of the oil and gas company’s stock valued at $1,007,000 after buying an additional 26,400 shares during the period. Jane Street Group LLC boosted its holdings in shares of Flotek Industries by 88.5% in the 1st quarter. Jane Street Group LLC now owns 100,151 shares of the oil and gas company’s stock valued at $834,000 after buying an additional 47,018 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Flotek Industries in the 2nd quarter valued at about $1,151,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FTK. Northland Capmk upgraded shares of Flotek Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded Flotek Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Northland Securities raised Flotek Industries from a “market perform” rating to an “outperform” rating and set a $16.00 price target for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Flotek Industries in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.33.

About Flotek Industries

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).