Brokerages Set Flotek Industries, Inc. (NYSE:FTK) PT at $21.33

Shares of Flotek Industries, Inc. (NYSE:FTK) have earned an average rating of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.3333.

FTK has been the subject of a number of research reports. Lake Street Capital initiated coverage on Flotek Industries in a report on Thursday, January 29th. They issued a “buy” rating and a $25.00 price target for the company. Zacks Research lowered Flotek Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Northland Securities reiterated an “outperform” rating and issued a $20.00 target price on shares of Flotek Industries in a report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Flotek Industries in a research report on Monday, December 29th.

Flotek Industries Trading Down 6.8%

Shares of FTK opened at $16.06 on Thursday. The firm has a market capitalization of $580.93 million, a price-to-earnings ratio of 19.35 and a beta of 1.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.63. Flotek Industries has a 1-year low of $6.05 and a 1-year high of $20.41. The company has a 50-day moving average of $17.02 and a 200 day moving average of $15.93.

Flotek Industries (NYSE:FTK) last issued its earnings results on Wednesday, March 11th. The oil and gas company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). The company had revenue of $67.52 million during the quarter, compared to the consensus estimate of $53.37 million. Flotek Industries had a return on equity of 21.32% and a net margin of 12.87%. On average, research analysts expect that Flotek Industries will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other Flotek Industries news, CFO James Bond Clement sold 6,299 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total transaction of $100,909.98. Following the transaction, the chief financial officer directly owned 122,837 shares in the company, valued at $1,967,848.74. This represents a 4.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flotek Industries

Several hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its position in shares of Flotek Industries by 3.6% during the third quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock valued at $327,000 after buying an additional 770 shares during the last quarter. First Trust Advisors LP grew its position in shares of Flotek Industries by 3.2% in the 4th quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company’s stock worth $749,000 after buying an additional 1,335 shares during the last quarter. Barclays PLC raised its stake in shares of Flotek Industries by 6.5% during the 4th quarter. Barclays PLC now owns 22,204 shares of the oil and gas company’s stock worth $383,000 after acquiring an additional 1,351 shares in the last quarter. Informed Momentum Co LLC raised its stake in shares of Flotek Industries by 2.2% during the 4th quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company’s stock worth $1,102,000 after acquiring an additional 1,366 shares in the last quarter. Finally, Aristides Capital LLC boosted its stake in Flotek Industries by 4.6% in the fourth quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock valued at $541,000 after acquiring an additional 1,390 shares in the last quarter. Hedge funds and other 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.