42,705 Shares in Flotek Industries, Inc. (NYSE:FTK) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 42,705 shares of the oil and gas company's stock, valued at approximately $407,000. Cubist Systematic Strategies LLC owned approximately 0.14% of Flotek Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTK. Barclays PLC acquired a new position in Flotek Industries during the third quarter valued at approximately $66,000. Truist Financial Corp raised its stake in shares of Flotek Industries by 3.6% during the fourth quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company's stock valued at $2,327,000 after purchasing an additional 8,500 shares during the period. Acuitas Investments LLC purchased a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $2,586,000. Bailard Inc. purchased a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $360,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $148,000. 10.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Singular Research upgraded shares of Flotek Industries to a "moderate buy" rating in a research note on Monday, March 17th.

Insiders Place Their Bets

In other news, Director Matthew Wilks purchased 103,514 shares of Flotek Industries stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $12.24 per share, with a total value of $1,267,011.36. Following the completion of the acquisition, the director now owns 144,350 shares in the company, valued at $1,766,844. The trade was a 253.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 149,766 shares of company stock valued at $1,841,758 over the last 90 days. 6.29% of the stock is owned by company insiders.

Flotek Industries Stock Down 0.5%

Shares of FTK traded down $0.07 during mid-day trading on Thursday, reaching $14.97. 49,487 shares of the stock traded hands, compared to its average volume of 191,373. The firm has a market cap of $446.39 million, a price-to-earnings ratio of 57.57 and a beta of 1.00. The stock has a fifty day simple moving average of $8.90 and a 200 day simple moving average of $8.52. Flotek Industries, Inc. has a 12-month low of $3.55 and a 12-month high of $15.96.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.11. The business had revenue of $55.36 million during the quarter, compared to analyst estimates of $44.50 million. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. On average, equities research analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Flotek Industries Profile

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).