Flotek Industries, Inc. (NYSE:FTK) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) by 71.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 145,678 shares of the oil and gas company's stock after buying an additional 60,504 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.49% of Flotek Industries worth $1,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC purchased a new stake in Flotek Industries in the third quarter worth $66,000. Truist Financial Corp lifted its position in shares of 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 worth $2,327,000 after purchasing an additional 8,500 shares during the period. Acuitas Investments LLC purchased a new position in shares of Flotek Industries during the fourth quarter valued at about $2,586,000. Bailard Inc. bought a new position in Flotek Industries in the fourth quarter worth about $360,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Flotek Industries in the fourth quarter worth about $148,000. 10.90% of the stock is currently owned by institutional investors.

Flotek Industries Stock Down 2.8%

FTK opened at $14.97 on Thursday. Flotek Industries, Inc. has a twelve month low of $3.55 and a twelve month high of $15.96. The firm has a 50 day moving average price of $8.90 and a 200-day moving average price of $8.52. The stock has a market capitalization of $446.57 million, a price-to-earnings ratio of 57.59 and a beta of 1.00.

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

Insider Transactions at Flotek Industries

In related news, Director Matthew Wilks acquired 13,040 shares of Flotek Industries stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $14.15 per share, with a total value of $184,516.00. Following the completion of the purchase, the director now directly owns 157,390 shares of the company's stock, valued at $2,227,068.50. The trade was a 9.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 149,766 shares of company stock valued at $1,841,758 over the last three months. Corporate insiders own 6.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

About Flotek Industries

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).