Raymond James Financial Inc. Makes New $513,000 Investment in Flotek Industries, Inc. (NYSE:FTK)

Raymond James Financial Inc. acquired a new stake in Flotek Industries, Inc. (NYSE:FTK - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 53,793 shares of the oil and gas company's stock, valued at approximately $513,000. Raymond James Financial Inc. owned about 0.18% of Flotek Industries as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FTK. Geode Capital Management LLC lifted its holdings in Flotek Industries by 108.1% during the 3rd quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company's stock valued at $1,483,000 after purchasing an additional 154,497 shares during the last quarter. Barclays PLC acquired a new position in Flotek Industries in the 3rd quarter valued at $66,000. Truist Financial Corp increased its holdings in Flotek Industries by 3.6% in the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company's stock valued at $2,327,000 after buying an additional 8,500 shares during the period. Renaissance Technologies LLC lifted its stake in Flotek Industries by 306.2% during the fourth quarter. Renaissance Technologies LLC now owns 85,700 shares of the oil and gas company's stock worth $817,000 after purchasing an additional 64,600 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in Flotek Industries in the fourth quarter valued at about $4,418,000. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Flotek Industries Price Performance

Shares of NYSE:FTK traded up $0.71 during trading on Friday, reaching $11.82. 510,486 shares of the stock were exchanged, compared to its average volume of 173,213. The stock has a fifty day moving average of $7.81 and a two-hundred day moving average of $8.02. The firm has a market cap of $352.56 million, a price-to-earnings ratio of 45.46 and a beta of 1.00. Flotek Industries, Inc. has a 1-year low of $3.30 and a 1-year high of $12.23.

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 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.11. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The business had revenue of $55.36 million for the quarter, compared to analyst estimates of $44.50 million. Sell-side analysts forecast that Flotek Industries, Inc. will post 0.29 EPS for the current 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).