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Flotek Industries, Inc. (FTK) Stock Rating Reaffirmed by Seaport Global Securities
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FTK has been the subject of several other research reports. Zacks Investment Research lowered shares of Flotek Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. ValuEngine lowered shares of Flotek Industries from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.
Shares of Flotek Industries (NYSE FTK) traded down 3.61% during trading on Thursday, hitting $8.55. 746,967 shares of the stock traded hands. The firm’s 50-day moving average price is $9.01 and its 200-day moving average price is $10.77. Flotek Industries has a 12 month low of $7.68 and a 12 month high of $16.93. The stock’s market cap is $489.52 million.
Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Flotek Industries had a negative net margin of 10.43% and a negative return on equity of 3.38%. The business had revenue of $80 million during the quarter, compared to analyst estimates of $78.85 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. Analysts anticipate that Flotek Industries will post $0.27 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. purchased a new position in shares of Flotek Industries during the first quarter worth about $112,000. KCG Holdings Inc. purchased a new position in shares of Flotek Industries during the first quarter worth about $137,000. BNP Paribas Arbitrage SA increased its position in shares of Flotek Industries by 12.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,044 shares of the oil and gas company’s stock worth $141,000 after buying an additional 1,209 shares during the last quarter. RNC Capital Management LLC increased its position in shares of Flotek Industries by 10.0% in the first quarter. RNC Capital Management LLC now owns 11,035 shares of the oil and gas company’s stock worth $141,000 after buying an additional 1,000 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Flotek Industries by 7.6% in the first quarter. Mason Street Advisors LLC now owns 12,664 shares of the oil and gas company’s stock worth $162,000 after buying an additional 893 shares during the last quarter. 99.50% of the stock is currently owned by hedge funds and other institutional investors.
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).