State of Wyoming Has $57,000 Stock Holdings in Flotek Industries, Inc. $FTK

State of Wyoming reduced its holdings in shares of Flotek Industries, Inc. (NYSE:FTK) by 89.5% in the third quarter, Holdings Channel reports. The institutional investor owned 3,913 shares of the oil and gas company’s stock after selling 33,219 shares during the period. State of Wyoming’s holdings in Flotek Industries were worth $57,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTK. Police & Firemen s Retirement System of New Jersey bought a new position in Flotek Industries in the 2nd quarter valued at about $50,000. New York State Common Retirement Fund purchased a new stake in shares of Flotek Industries in the second quarter worth approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flotek Industries in the second quarter valued at approximately $115,000. D Orazio & Associates Inc. purchased a new position in shares of Flotek Industries during the second quarter valued at approximately $153,000. Finally, AlphaQuest LLC grew its holdings in Flotek Industries by 5,481.5% during the third quarter. AlphaQuest LLC now owns 12,670 shares of the oil and gas company’s stock worth $185,000 after buying an additional 12,443 shares in the last quarter. 10.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTK. Wall Street Zen cut Flotek Industries from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Northland Securities reissued an “outperform” rating and set a $20.00 price target on shares of Flotek Industries in a research report on Wednesday, December 31st. Lake Street Capital assumed coverage on shares of Flotek Industries in a research report on Thursday, January 29th. They issued a “buy” rating and a $25.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a research note on Monday, December 29th. Finally, Zacks Research downgraded Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

Flotek Industries Trading Up 4.2%

NYSE:FTK opened at $17.33 on Friday. Flotek Industries, Inc. has a 12 month low of $6.05 and a 12 month high of $20.09. The company has a current ratio of 1.77, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $17.23 and its 200 day moving average is $15.12. The stock has a market capitalization of $520.91 million, a PE ratio of 19.47 and a beta of 1.44.

Flotek Industries 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.