Flotek Industries, Inc. (NYSE:FTK) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Flotek Industries, Inc. (NYSE:FTK) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $34.67.

A number of brokerages have issued reports on FTK. JonesTrading began coverage on shares of Flotek Industries in a research report on Thursday, July 9th. They issued a “buy” rating and a $40.00 price objective for the company. Lake Street Capital lifted their target price on shares of Flotek Industries from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings upgraded Flotek Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 18th.

Insiders Place Their Bets

In other Flotek Industries news, Director Matthew Wilks bought 1,319,493 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was purchased at an average cost of $26.01 per share, with a total value of $34,320,012.93. Following the transaction, the director directly owned 1,477,285 shares in the company, valued at $38,424,182.85. This trade represents a 836.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Profrac Gdm, Llc sold 2,306,806 shares of Flotek Industries stock in a transaction on Friday, September 11th. The stock was sold at an average price of $26.01, for a total value of $60,000,024.06. Following the sale, the insider owned 3,693,194 shares in the company, valued at $96,059,975.94. The trade was a 38.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Flotek Industries

Several institutional investors have recently added to or reduced their stakes in FTK. Squarepoint Ops LLC increased its stake in shares of Flotek Industries by 51.8% during the 2nd quarter. Squarepoint Ops LLC now owns 111,425 shares of the oil and gas company’s stock worth $2,621,000 after purchasing an additional 38,046 shares during the last quarter. Round Rock Advisors LLC lifted its stake in Flotek Industries by 203.4% in the second quarter. Round Rock Advisors LLC now owns 81,471 shares of the oil and gas company’s stock valued at $1,916,000 after purchasing an additional 54,620 shares during the last quarter. AWM Investment Company Inc. purchased a new position in Flotek Industries in the second quarter valued at approximately $706,000. Bank of New York Mellon Corp bought a new position in Flotek Industries during the second quarter valued at $1,160,000. Finally, Masters Capital Management LLC grew its holdings in Flotek Industries by 8.9% during the first quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company’s stock valued at $18,488,000 after purchasing an additional 89,438 shares during the period. Institutional investors own 10.90% of the company’s stock.

Flotek Industries Price Performance

FTK opened at $28.70 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.78 and a quick ratio of 1.50. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 29.00 and a beta of 1.47. The firm’s fifty day moving average price is $27.81 and its two-hundred day moving average price is $22.65. Flotek Industries has a 1 year low of $13.19 and a 1 year high of $39.67.

Flotek Industries (NYSE:FTK) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.13 by $0.13. Flotek Industries had a net margin of 12.97% and a return on equity of 21.57%. The company had revenue of $99.37 million during the quarter, compared to the consensus estimate of $69.51 million. As a group, analysts anticipate that Flotek Industries will post 0.76 earnings per share for the current fiscal year.

Flotek Industries Company Profile

Flotek Industries, Inc is a Houston, Texas-based technology company that develops and commercializes specialty green chemistry solutions. Its products are designed to help customers improve operational efficiency, reduce environmental impacts and manage resource use across energy, industrial and consumer applications.

The company’s principal offerings serve the oil and gas industry, including chemistry technologies used in well completion, production and other field operations. Flotek’s CnF® technology is a flagship product line intended to enhance hydrocarbon recovery while supporting efforts to reduce emissions, water consumption and the use of conventional chemical additives.