FY2027 EPS Estimates for FTK Reduced by Northland Securities

Flotek Industries, Inc. (NYSE:FTK) – Stock analysts at Northland Securities decreased their FY2027 earnings per share (EPS) estimates for shares of Flotek Industries in a note issued to investors on Thursday, August 20th. Northland Securities analyst J. Grampp now forecasts that the oil and gas company will earn $1.21 per share for the year, down from their previous forecast of $1.52. The consensus estimate for Flotek Industries’ current full-year earnings is $0.70 per share.

A number of other equities research analysts have also recently weighed in on FTK. JonesTrading began coverage on shares of Flotek Industries in a research report on Thursday, July 9th. They set a “buy” rating and a $40.00 price target for the company. Weiss Ratings upgraded shares of Flotek Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.33.

Flotek Industries Trading Down 3.0%

NYSE FTK opened at $23.93 on Monday. The firm’s 50-day moving average is $26.36 and its two-hundred day moving average is $20.92. Flotek Industries has a 12 month low of $10.95 and a 12 month high of $39.67. 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 stock has a market capitalization of $866.74 million, a P/E ratio of 24.17 and a beta of 1.43.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.13. The firm had revenue of $99.37 million during the quarter, compared to the consensus estimate of $69.51 million. Flotek Industries had a return on equity of 21.57% and a net margin of 12.97%.

Hedge Funds Weigh In On Flotek Industries

Several hedge funds have recently bought and sold shares of FTK. California State Teachers Retirement System grew its position in Flotek Industries by 510.1% in the 2nd quarter. California State Teachers Retirement System now owns 4,704 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 3,933 shares in the last quarter. Round Rock Advisors LLC lifted its position in shares of Flotek Industries by 203.4% during the second quarter. Round Rock Advisors LLC now owns 81,471 shares of the oil and gas company’s stock worth $1,916,000 after purchasing an additional 54,620 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Flotek Industries during the second quarter worth about $706,000. Bank of New York Mellon Corp purchased a new position in shares of Flotek Industries in the second quarter valued at approximately $1,160,000. Finally, Masters Capital Management LLC grew its holdings in shares of Flotek Industries by 8.9% in 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 in the last quarter. Institutional investors and hedge funds 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.