EntryPoint Capital LLC Takes Position in Flotek Industries, Inc. $FTK

Key Points

• EntryPoint Capital LLC purchased 24,498 shares of Flotek Industries, valued at approximately $204,000, representing a newly established position in the company.
• CFO James Bond Clement and CEO Ryan Gillis Ezell significantly reduced their ownership in Flotek Industries, with Clement selling 45,732 shares and Ezell selling 87,187 shares during August 2023.
• Flotek Industries' stock recently reached a market capitalization of $355.63 million and is projected to have a consensus target price of $14.33 from analysts.

EntryPoint Capital LLC purchased a new stake in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,498 shares of the oil and gas company's stock, valued at approximately $204,000. EntryPoint Capital LLC owned 0.08% of Flotek Industries as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Acuitas Investments LLC boosted its position in Flotek Industries by 18.6% during the first quarter. Acuitas Investments LLC now owns 321,925 shares of the oil and gas company's stock valued at $2,682,000 after buying an additional 50,584 shares during the period. Geode Capital Management LLC boosted its position in Flotek Industries by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company's stock valued at $2,885,000 after buying an additional 5,056 shares during the period. Dimensional Fund Advisors LP boosted its position in Flotek Industries by 71.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 145,678 shares of the oil and gas company's stock valued at $1,388,000 after buying an additional 60,504 shares during the period. Royce & Associates LP purchased a new stake in Flotek Industries during the first quarter valued at about $1,167,000. Finally, Ancora Advisors LLC boosted its position in Flotek Industries by 66.3% during the fourth quarter. Ancora Advisors LLC now owns 100,800 shares of the oil and gas company's stock valued at $961,000 after buying an additional 40,200 shares during the period. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Flotek Industries news, CFO James Bond Clement sold 45,732 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $12.74, for a total transaction of $582,625.68. Following the completion of the transaction, the chief financial officer owned 95,439 shares of the company's stock, valued at approximately $1,215,892.86. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Gillis Ezell sold 87,187 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $12.26, for a total transaction of $1,068,912.62. Following the transaction, the chief executive officer directly owned 156,855 shares of the company's stock, valued at $1,923,042.30. This represents a 35.73% decrease in their position. The disclosure for this sale can be found here. 3.02% of the stock is currently owned by company insiders.

Flotek Industries Trading Down 0.1%

FTK stock traded down $0.02 during trading on Friday, reaching $12.13. The company had a trading volume of 99,152 shares, compared to its average volume of 386,221. Flotek Industries, Inc. has a 52 week low of $3.79 and a 52 week high of $16.87. The company has a market cap of $362.05 million, a P/E ratio of 27.57 and a beta of 1.32. The business has a 50 day moving average of $13.03 and a 200 day moving average of $11.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.59 and a quick ratio of 1.36.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Flotek Industries had a net margin of 6.59% and a return on equity of 17.67%. The business had revenue of $58.35 million during the quarter, compared to the consensus estimate of $52.40 million. Flotek Industries has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FTK. Northland Capmk raised shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Alliance Global Partners began coverage on shares of Flotek Industries in a research note on Thursday, June 12th. They set a "buy" rating and a $19.00 price objective for the company. Wall Street Zen downgraded shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 3rd. Finally, Northland Securities raised shares of Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $14.33.

Flotek Industries Company 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).