Flotek Industries, Inc. (NYSE:FTK) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Flotek Industries a “Moderate Buy” consensus: four of five analysts rate the stock a buy, with an average 12-month price target of $34.67 versus its $30.68 opening price.
• Flotek’s latest quarterly results exceeded expectations, with EPS of $0.26 versus the $0.13 consensus estimate and revenue of $99.37 million compared with estimates of $69.51 million.
• Insider activity was mixed: major shareholder ProFrac sold 2.31 million shares for about $60 million, while director Matthew Wilks purchased 1.32 million shares for approximately $34.3 million; institutional investors collectively own 10.9% of the stock.

Shares of Flotek Industries, Inc. (NYSE:FTK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.6667.

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Flotek Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Lake Street Capital lifted their target price on shares of Flotek Industries from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, September 15th. Finally, JonesTrading assumed coverage on shares of Flotek Industries in a research report on Thursday, July 9th. They issued a "buy" rating and a $40.00 price target on the stock.

Flotek Industries Price Performance

Shares of NYSE FTK opened at $30.68 on Tuesday. The stock has a fifty day simple moving average of $27.45 and a two-hundred day simple moving average of $22.21. Flotek Industries has a 1-year low of $12.60 and a 1-year high of $39.67. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 30.99 and a beta of 1.47. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.31.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.13. Flotek Industries had a return on equity of 21.57% and a net margin of 12.97%.The firm had revenue of $99.37 million for the quarter, compared to analyst estimates of $69.51 million. Analysts anticipate that Flotek Industries will post 0.76 earnings per share for the current year.

Insider Activity at Flotek Industries

In other Flotek Industries news, major shareholder Profrac Gdm, Llc sold 2,306,806 shares of the firm's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $26.01, for a total value of $60,000,024.06. Following the completion of the transaction, the insider directly owned 3,693,194 shares of the company's stock, valued at $96,059,975.94. This trade represents a 38.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Wilks acquired 1,319,493 shares of the company's stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average cost of $26.01 per share, with a total value of $34,320,012.93. Following the purchase, the director directly owned 1,477,285 shares of the company's stock, valued at $38,424,182.85. This trade represents a 836.22% increase in their position. The SEC filing for this purchase provides additional information. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Masters Capital Management LLC increased its holdings in shares of Flotek Industries by 8.9% in the 1st quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company's stock worth $18,488,000 after buying an additional 89,438 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Flotek Industries by 71.4% during the first quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company's stock valued at $11,736,000 after acquiring an additional 288,064 shares in the last quarter. Royce & Associates LP lifted its position in shares of Flotek Industries by 41.6% in the 4th quarter. Royce & Associates LP now owns 507,125 shares of the oil and gas company's stock worth $8,738,000 after purchasing an additional 148,876 shares during the period. CenterBook Partners LP boosted its position in Flotek Industries by 64.7% during the 4th quarter. CenterBook Partners LP now owns 289,026 shares of the oil and gas company's stock valued at $4,980,000 after acquiring an additional 113,507 shares in the last quarter. Finally, Manatuck Hill Partners LLC raised its holdings in Flotek Industries by 9.5% in the fourth quarter. Manatuck Hill Partners LLC now owns 289,000 shares of the oil and gas company's stock worth $4,979,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 10.90% of the company's stock.

Flotek Industries Company Profile

Flotek Industries, Inc is a Houston, Texas-based technology company that develops and commercializes specialty green chemistry solutions. Its products are designed to help customers improve operational efficiency, reduce environmental impacts and manage resource use across energy, industrial and consumer applications.

The company's principal offerings serve the oil and gas industry, including chemistry technologies used in well completion, production and other field operations. Flotek's CnF® technology is a flagship product line intended to enhance hydrocarbon recovery while supporting efforts to reduce emissions, water consumption and the use of conventional chemical additives.

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