Squarepoint Ops LLC Invests $96,000 in Flotek Industries Inc (FTK)
Squarepoint Ops LLC acquired a new stake in Flotek Industries Inc (NYSE:FTK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 88,062 shares of the oil and gas company’s stock, valued at approximately $96,000. Squarepoint Ops LLC owned about 0.15% of Flotek Industries as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. increased its holdings in shares of Flotek Industries by 30.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,099,662 shares of the oil and gas company’s stock valued at $2,289,000 after acquiring an additional 486,267 shares during the last quarter. Two Sigma Investments LP purchased a new position in Flotek Industries during the 4th quarter worth approximately $231,000. Geode Capital Management LLC grew its stake in Flotek Industries by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 566,382 shares of the oil and gas company’s stock worth $617,000 after buying an additional 25,748 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Flotek Industries during the 4th quarter worth approximately $40,000. Finally, Rutabaga Capital Management LLC MA grew its stake in Flotek Industries by 294.4% during the 4th quarter. Rutabaga Capital Management LLC MA now owns 1,752,622 shares of the oil and gas company’s stock worth $1,910,000 after buying an additional 1,308,243 shares during the last quarter. Institutional investors and hedge funds own 61.45% of the company’s stock.
FTK has been the topic of a number of research reports. Zacks Investment Research downgraded Flotek Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. ValuEngine upgraded Flotek Industries from a “hold” rating to a “buy” rating in a research note on Friday, January 11th.
Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Wednesday, March 6th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $43.40 million for the quarter, compared to the consensus estimate of $63.20 million. Flotek Industries had a negative return on equity of 13.21% and a negative net margin of 30.06%. The company’s quarterly revenue was down 21.5% compared to the same quarter last year. As a group, analysts expect that Flotek Industries Inc will post -0.3 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Squarepoint Ops LLC Invests $96,000 in Flotek Industries Inc (FTK)” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.watchlistnews.com/squarepoint-ops-llc-invests-96000-in-flotek-industries-inc-ftk/2980675.html.
Flotek Industries Company Profile
Flotek Industries, Inc provides chemistry and services to the oil and gas industries in then United States and internationally. The company designs, develops, manufactures, packs, markets, distributes, and delivers reservoir-centric fluid systems, including specialty and conventional chemistries for use in oil and gas well drilling, cementing, completion, remediation, and stimulation activities, as well as use in enhanced and improved oil recovery markets under the Complex nano-Fluid, Pressure reducing Fluids, and MicroSolv brand names.
Read More: What are the benefits of a balanced fund?
Receive News & Ratings for Flotek Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flotek Industries and related companies with MarketBeat.com's FREE daily email newsletter.