Flotek Industries (NYSE:FTK) CFO James Bond Clement Sells 12,554 Shares of Stock

Flotek Industries, Inc. (NYSE:FTK) CFO James Bond Clement sold 12,554 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $20.08, for a total value of $252,084.32. Following the completion of the sale, the chief financial officer owned 115,324 shares in the company, valued at approximately $2,315,705.92. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

James Bond Clement also recently made the following trade(s):

• On Tuesday, February 24th, James Bond Clement sold 6,299 shares of Flotek Industries stock. The shares were sold at an average price of $16.02, for a total value of $100,909.98.

Flotek Industries Trading Up 1.5%

FTK stock opened at $19.91 on Tuesday. Flotek Industries, Inc. has a 1-year low of $10.95 and a 1-year high of $20.63. The firm has a market cap of $720.38 million, a P/E ratio of 25.53 and a beta of 1.39. The business’s 50 day moving average is $16.84 and its 200-day moving average is $16.64. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $70.05 million during the quarter, compared to the consensus estimate of $63.08 million. Flotek Industries had a net margin of 11.83% and a return on equity of 20.70%. Equities analysts anticipate that Flotek Industries, Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Masters Capital Management LLC boosted its position in shares of Flotek Industries by 8.9% in the 1st quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company’s stock worth $18,488,000 after purchasing an additional 89,438 shares during the last quarter. Sei Investments Co. boosted its position in shares of Flotek Industries by 100.0% in the 1st quarter. Sei Investments Co. now owns 76,076 shares of the oil and gas company’s stock worth $1,291,000 after purchasing an additional 38,038 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Flotek Industries by 71.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company’s stock worth $11,736,000 after purchasing an additional 288,064 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Flotek Industries by 10.4% in the 1st quarter. Principal Financial Group Inc. now owns 80,480 shares of the oil and gas company’s stock worth $1,366,000 after purchasing an additional 7,564 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new position in shares of Flotek Industries in the 1st quarter worth $876,000. 10.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FTK. Lake Street Capital began coverage on Flotek Industries in a research report on Thursday, January 29th. They set a “buy” rating and a $25.00 price target on the stock. Zacks Research lowered Flotek Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings upgraded Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Flotek Industries currently has an average rating of “Moderate Buy” and an average price target of $21.33.

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.