Northpointe Capital LLC boosted its stake in Flotek Industries, Inc. (NYSE:FTK) by 15.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,757,075 shares of the oil and gas company’s stock after buying an additional 239,065 shares during the period. Flotek Industries comprises approximately 1.6% of Northpointe Capital LLC’s investment portfolio, making the stock its 4th largest position. Northpointe Capital LLC’s holdings in Flotek Industries were worth $15,708,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of Flotek Industries by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the oil and gas company’s stock valued at $198,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Flotek Industries by 0.4% in the second quarter. Arizona State Retirement System now owns 28,367 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 100 shares in the last quarter. Texas Permanent School Fund boosted its stake in shares of Flotek Industries by 1.3% in the second quarter. Texas Permanent School Fund now owns 39,712 shares of the oil and gas company’s stock valued at $355,000 after buying an additional 500 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Flotek Industries by 0.6% in the first quarter. Prudential Financial Inc. now owns 92,399 shares of the oil and gas company’s stock valued at $1,182,000 after buying an additional 550 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Flotek Industries by 5.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,790 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 700 shares in the last quarter. 98.21% of the stock is owned by hedge funds and other institutional investors.

Shares of Flotek Industries, Inc. (FTK) opened at 5.97 on Tuesday. The company’s market capitalization is $342.27 million. The firm’s 50-day moving average price is $8.07 and its 200 day moving average price is $10.44. Flotek Industries, Inc. has a one year low of $4.91 and a one year high of $16.93.

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Several brokerages have weighed in on FTK. BidaskClub cut Flotek Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Seaport Global Securities reissued a “buy” rating on shares of Flotek Industries in a report on Thursday, July 20th. Zacks Investment Research raised Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, May 8th. Finally, ValuEngine cut Flotek Industries from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

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Institutional Ownership by Quarter for Flotek Industries (NYSE:FTK)

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