Flotek Industries, Inc. (NYSE:FTK) Receives Average Rating of “Moderate Buy” from Analysts

Flotek Industries, Inc. (NYSE:FTK) has received an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. One investment 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 $28.3333.

A number of research analysts have recently weighed in on the company. JonesTrading initiated coverage on Flotek Industries in a research report on Thursday, July 9th. They set a “buy” rating and a $40.00 price objective for the company. Weiss Ratings raised Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th.

Flotek Industries Price Performance

Shares of NYSE:FTK opened at $23.45 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.83. The firm has a fifty day moving average price of $23.56 and a 200 day moving average price of $19.33. Flotek Industries has a fifty-two week low of $10.95 and a fifty-two week high of $28.50. The firm has a market cap of $848.28 million, a price-to-earnings ratio of 30.06 and a beta of 1.43.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts expect that Flotek Industries will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Flotek Industries

In other news, CFO James Bond Clement sold 12,554 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $20.08, for a total transaction of $252,084.32. Following the sale, the chief financial officer directly owned 115,324 shares of the company’s stock, valued at $2,315,705.92. This represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flotek Industries

Several large investors have recently modified their holdings of FTK. Rhumbline Advisers boosted its stake in shares of Flotek Industries by 3.6% during the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock worth $327,000 after purchasing an additional 770 shares during the period. First Trust Advisors LP lifted its stake in Flotek Industries by 3.2% in the fourth quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company’s stock worth $749,000 after purchasing an additional 1,335 shares during the last quarter. Barclays PLC lifted its stake in Flotek Industries by 6.5% in the fourth quarter. Barclays PLC now owns 22,204 shares of the oil and gas company’s stock worth $383,000 after purchasing an additional 1,351 shares during the last quarter. Informed Momentum Co LLC boosted its position in shares of Flotek Industries by 2.2% during the fourth quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company’s stock valued at $1,102,000 after buying an additional 1,366 shares during the period. Finally, Aristides Capital LLC boosted its position in shares of Flotek Industries by 4.6% during the fourth quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock valued at $541,000 after buying an additional 1,390 shares during the period. Institutional investors own 10.90% of the company’s stock.

About Flotek Industries

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.