Brokerages Set Flotek Industries, Inc. (NYSE:FTK) Target Price at $21.33

Shares of Flotek Industries, Inc. (NYSE:FTK) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the firm, MarketBeat.com 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 brokerages that have issued a report on the stock in the last year is $21.3333.

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a research note on Friday, March 27th. Lake Street Capital assumed coverage on shares of Flotek Industries in a research note on Thursday, January 29th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Research lowered shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd.

Flotek Industries Stock Up 0.2%

Flotek Industries stock opened at $16.98 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.83. Flotek Industries has a 52-week low of $10.95 and a 52-week high of $20.41. The firm has a 50 day moving average price of $16.59 and a two-hundred day moving average price of $16.56. The firm has a market cap of $614.21 million, a price-to-earnings ratio of 21.77 and a beta of 1.39.

Flotek Industries (NYSE:FTK) last released 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). The firm had revenue of $70.05 million for the quarter, compared to the consensus estimate of $63.08 million. Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%. Equities analysts predict that Flotek Industries will post 0.66 EPS for the current year.

Insider Buying and Selling at Flotek Industries

In other news, CFO James Bond Clement sold 6,299 shares of Flotek Industries stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total value of $100,909.98. Following the completion of the sale, the chief financial officer owned 122,837 shares in the company, valued at $1,967,848.74. The trade was a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Flotek Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in Flotek Industries by 3.6% during the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock valued at $327,000 after purchasing an additional 770 shares in the last quarter. First Trust Advisors LP increased its stake in 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 in the last quarter. Barclays PLC increased its stake in 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 purchasing an additional 1,351 shares in the last quarter. Informed Momentum Co LLC increased its stake in 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 purchasing an additional 1,366 shares in the last quarter. Finally, Aristides Capital LLC increased its stake in Flotek Industries by 4.6% during the 4th quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock valued at $541,000 after purchasing an additional 1,390 shares in the last quarter. Institutional investors own 10.90% 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.