RNC Capital Management LLC cut its position in shares of Flotek Industries Inc. (NYSE:FTK) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 12,270 shares of the company’s stock after selling 200 shares during the period. RNC Capital Management LLC’s holdings in Flotek Industries were worth $162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Flotek Industries by 1,320.7% in the first quarter. Royal Bank of Canada now owns 20,075 shares of the company’s stock worth $147,000 after buying an additional 18,662 shares during the period. Arizona State Retirement System raised its position in Flotek Industries by 0.4% in the first quarter. Arizona State Retirement System now owns 27,467 shares of the company’s stock worth $201,000 after buying an additional 100 shares during the period. Capstone Asset Management Co. raised its position in Flotek Industries by 4.9% in the second quarter. Capstone Asset Management Co. now owns 16,110 shares of the company’s stock worth $213,000 after buying an additional 750 shares during the period. BNP Paribas Arbitrage SA raised its position in Flotek Industries by 113.4% in the second quarter. BNP Paribas Arbitrage SA now owns 16,823 shares of the company’s stock worth $222,000 after buying an additional 8,941 shares during the period. Finally, Pacad Investment Ltd. bought a new position in Flotek Industries during the first quarter worth about $242,000. Hedge funds and other institutional investors own 94.89% of the company’s stock.

Flotek Industries Inc. (NYSE:FTK) traded down 3.61% during mid-day trading on Friday, hitting $14.41. The stock had a trading volume of 1,389,090 shares. Flotek Industries Inc. has a one year low of $4.89 and a one year high of $21.15. The stock’s market cap is $776.83 million. The company has a 50 day moving average price of $14.96 and a 200 day moving average price of $11.58.

Flotek Industries (NYSE:FTK) last released its quarterly earnings data on Tuesday, July 26th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The business earned $72.32 million during the quarter, compared to the consensus estimate of $65 million. Flotek Industries had a negative return on equity of 2.24% and a negative net margin of 10.29%. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. On average, equities analysts anticipate that Flotek Industries Inc. will post ($0.14) EPS for the current year.

FTK has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Flotek Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd. Stephens reaffirmed a “top pick” rating on shares of Flotek Industries in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $12.98.

In other news, Director L Melvin Cooper sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $16.01, for a total transaction of $160,100.00. Following the completion of the sale, the director now directly owns 92,475 shares in the company, valued at approximately $1,480,524.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.64% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.

5 Day Chart for NYSE:FTK

Want to see what other hedge funds are holding FTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flotek Industries Inc. (NYSE:FTK).

Receive News & Ratings for Flotek Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flotek Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.