Flotek Industries, Inc. (FTK) – What Are Analysts Thinking About This Stock?

Flotek Industries, Inc. (NYSE:FTK) has been given an average recommendation of “Buy” by the five research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.67.

Several equities research analysts recently weighed in on the stock. Lake Street Capital raised their price target on shares of Flotek Industries from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Zacks Research raised Flotek Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Finally, Weiss Ratings downgraded Flotek Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th.

Insider Buying and Selling at Flotek Industries

In other Flotek Industries news, Director Matthew Wilks purchased 1,319,493 shares of the stock in a transaction dated Friday, September 11th. The shares were purchased at an average cost of $26.01 per share, with a total value of $34,320,012.93. Following the completion of the acquisition, the director directly owned 1,477,285 shares in the company, valued at $38,424,182.85. This trade represents a 836.22% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Profrac Gdm, Llc sold 2,306,806 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $26.01, for a total value of $60,000,024.06. Following the sale, the insider directly owned 3,693,194 shares in the company, valued at $96,059,975.94. This trade represents a 38.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Flotek Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Masters Capital Management LLC lifted its stake in Flotek Industries by 8.9% during the 1st 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 acquiring an additional 89,438 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Flotek Industries by 71.4% in the first quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company’s stock worth $11,736,000 after acquiring an additional 288,064 shares during the period. Squarepoint Ops LLC grew its stake in shares of Flotek Industries by 51.8% in the second quarter. Squarepoint Ops LLC now owns 111,425 shares of the oil and gas company’s stock worth $2,621,000 after acquiring an additional 38,046 shares during the period. Round Rock Advisors LLC grew its stake in shares of Flotek Industries by 203.4% in 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 acquiring an additional 54,620 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Flotek Industries by 10.4% in the first quarter. Principal Financial Group Inc. now owns 80,480 shares of the oil and gas company’s stock worth $1,366,000 after acquiring an additional 7,564 shares during the period. Institutional investors own 10.90% of the company’s stock.

Flotek Industries Stock Performance

Shares of FTK stock opened at $25.47 on Wednesday. The company has a market capitalization of $923.91 million, a price-to-earnings ratio of 31.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.94 and a current ratio of 2.30. Flotek Industries has a one year low of $13.19 and a one year high of $39.67. The company’s 50-day moving average is $26.60 and its 200 day moving average is $22.32.

Flotek Industries (NYSE:FTK) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.13. The business had revenue of $114.35 million during the quarter, compared to analysts’ expectations of $94.36 million. Flotek Industries had a net margin of 8.81% and a return on equity of 24.56%. Sell-side analysts expect that Flotek Industries will post 0.90 EPS for the current fiscal year.

Flotek Industries Company Profile

Flotek Industries is a technology-focused company serving the energy industry with specialty chemistry and data analytics. Its energy chemistry business develops and supplies chemical products used in oil and natural gas drilling, completion, production and other well operations. Through its data analytics business, Flotek provides measurement and analytical services that help energy customers monitor production and make operational decisions. Its offerings combine field data with laboratory analysis and chemistry expertise.