Stifel Financial Corp raised its stake in Flotek Industries Inc (NYSE:FTK) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 667,402 shares of the oil and gas company’s stock after buying an additional 37,038 shares during the quarter. Stifel Financial Corp owned 1.17% of Flotek Industries worth $3,054,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTK. KBC Group NV bought a new position in shares of Flotek Industries during the 3rd quarter worth approximately $294,000. Dimensional Fund Advisors LP boosted its stake in shares of Flotek Industries by 21.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,358,417 shares of the oil and gas company’s stock worth $6,317,000 after acquiring an additional 243,001 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Flotek Industries by 5.8% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 249,573 shares of the oil and gas company’s stock worth $1,161,000 after acquiring an additional 13,773 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Flotek Industries by 24.2% during the 3rd quarter. Wells Fargo & Company MN now owns 114,691 shares of the oil and gas company’s stock worth $533,000 after acquiring an additional 22,327 shares during the period. Finally, Trexquant Investment LP bought a new stake in Flotek Industries in the 3rd quarter valued at $326,000. 84.91% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised Flotek Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday.
Flotek Industries (NYSE:FTK) last announced its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). Flotek Industries had a negative net margin of 4.31% and a negative return on equity of 4.99%. The business had revenue of $79.46 million for the quarter, compared to the consensus estimate of $85.10 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. equities analysts expect that Flotek Industries Inc will post -0.12 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This article was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://stocknewstimes.com/2018/01/11/stifel-financial-corp-increases-position-in-flotek-industries-inc-ftk.html.
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).
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.