Denver Investment Advisors LLC boosted its stake in shares of Flotek Industries, Inc. (NYSE:FTK) by 7.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,070 shares of the oil and gas company’s stock after buying an additional 2,945 shares during the period. Denver Investment Advisors LLC owned about 0.08% of Flotek Industries worth $385,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of FTK. BlackRock Inc. boosted its position in shares of Flotek Industries by 132,538.6% in the first quarter. BlackRock Inc. now owns 6,760,587 shares of the oil and gas company’s stock valued at $86,468,000 after buying an additional 6,755,490 shares in the last quarter. Frontier Capital Management Co. LLC bought a new position in Flotek Industries during the first quarter worth approximately $12,154,000. Stifel Financial Corp bought a new position in Flotek Industries during the first quarter worth approximately $7,070,000. Viking Fund Management LLC bought a new position in Flotek Industries during the second quarter worth approximately $4,559,000. Finally, Vanguard Group Inc. boosted its position in Flotek Industries by 7.2% in the first quarter. Vanguard Group Inc. now owns 4,885,959 shares of the oil and gas company’s stock worth $62,491,000 after buying an additional 330,179 shares in the last quarter. 98.21% of the stock is owned by institutional investors.
Flotek Industries, Inc. (NYSE FTK) opened at 5.63 on Monday. The stock’s market cap is $322.78 million. Flotek Industries, Inc. has a 1-year low of $4.91 and a 1-year high of $16.93. The firm has a 50-day moving average of $7.76 and a 200-day moving average of $10.31.
FTK has been the subject of a number of research reports. Zacks Investment Research raised shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Monday, May 8th. ValuEngine cut shares of Flotek Industries from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Seaport Global Securities reissued a “buy” rating on shares of Flotek Industries in a research note on Thursday, July 20th. Finally, BidaskClub cut shares of Flotek Industries from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.
About Flotek Industries
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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