Flotek Industries (NYSE:FTK) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Flotek Industries (NYSE:FTK) announced its earnings results on Tuesday. The oil and gas company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05, Zacks reports. Flotek Industries had a net margin of 6.59% and a return on equity of 17.67%. Flotek Industries updated its FY 2025 guidance to EPS.

Flotek Industries Stock Performance

FTK traded down $0.62 on Tuesday, reaching $16.73. The company had a trading volume of 517,871 shares, compared to its average volume of 405,465. The company has a quick ratio of 1.36, a current ratio of 1.59 and a debt-to-equity ratio of 0.55. Flotek Industries has a 1 year low of $5.20 and a 1 year high of $18.96. The stock has a market capitalization of $499.58 million, a PE ratio of 38.03 and a beta of 1.18. The stock has a 50-day moving average price of $14.24 and a 200-day moving average price of $13.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Northland Capmk raised shares of Flotek Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Flotek Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Flotek Industries in a research report on Wednesday, October 8th. Finally, Northland Securities raised Flotek Industries from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.33.

Insider Transactions at Flotek Industries

In related news, CEO Ryan Gillis Ezell sold 87,187 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $12.26, for a total value of $1,068,912.62. Following the completion of the sale, the chief executive officer directly owned 156,855 shares of the company’s stock, valued at $1,923,042.30. This represents a 35.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Bond Clement sold 45,732 shares of Flotek Industries stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total value of $582,625.68. Following the transaction, the chief financial officer directly owned 95,439 shares in the company, valued at approximately $1,215,892.86. This trade represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flotek Industries

A number of hedge funds have recently modified their holdings of FTK. Ameriprise Financial Inc. acquired a new position in shares of Flotek Industries in the 2nd quarter valued at $257,000. Raymond James Financial Inc. purchased a new position in Flotek Industries during the 2nd quarter worth $1,151,000. Occudo Quantitative Strategies LP acquired a new position in Flotek Industries in the second quarter valued at $345,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flotek Industries in the second quarter valued at about $115,000. Finally, Jump Financial LLC purchased a new stake in shares of Flotek Industries in the second quarter valued at about $872,000. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

About Flotek Industries

Flotek Industries, Inc operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally. It operates through two segments: Chemistry Technologies (CT) and Data Analytics (DA).