American Century Companies Inc. Acquires New Holdings in Flotek Industries, Inc. $FTK

Key Points

• American Century Companies Inc. has acquired a new position in Flotek Industries, purchasing 31,001 shares valued at approximately $258,000.
• Flotek Industries' CFO and CEO recently sold significant shares, with the CFO decreasing their position by 32.39% and the CEO by 35.73%.
• Flotek Industries' stock is currently down 6.3% and has a market capitalization of $335.03 million with mixed analyst ratings, including a recent downgrade to "hold" and upgrades to "strong buy" from others.

American Century Companies Inc. bought a new position in Flotek Industries, Inc. (NYSE:FTK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,001 shares of the oil and gas company's stock, valued at approximately $258,000. American Century Companies Inc. owned 0.10% of Flotek Industries at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new stake in Flotek Industries in the first quarter worth $651,000. Jane Street Group LLC bought a new position in shares of Flotek Industries in the fourth quarter worth $506,000. Dimensional Fund Advisors LP grew its stake in shares of Flotek Industries by 71.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 145,678 shares of the oil and gas company's stock worth $1,388,000 after purchasing an additional 60,504 shares in the last quarter. Algert Global LLC bought a new position in shares of Flotek Industries in the fourth quarter worth $102,000. Finally, Navellier & Associates Inc. bought a new position in shares of Flotek Industries in the first quarter worth $333,000. 10.90% of the stock is owned by institutional investors and hedge funds.

Flotek Industries Stock Up 2.4%

Shares of FTK traded up $0.26 during midday trading on Thursday, reaching $11.36. 332,991 shares of the stock were exchanged, compared to its average volume of 362,830. Flotek Industries, Inc. has a 12-month low of $4.49 and a 12-month high of $16.87. The firm has a 50 day simple moving average of $12.43 and a 200-day simple moving average of $11.30. The company has a quick ratio of 1.36, a current ratio of 1.59 and a debt-to-equity ratio of 0.55. The company has a market cap of $339.25 million, a price-to-earnings ratio of 25.82 and a beta of 1.06.

Flotek Industries (NYSE:FTK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Flotek Industries had a return on equity of 17.67% and a net margin of 6.59%.The company 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. Research analysts forecast that Flotek Industries, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Flotek Industries

In related news, CFO James Bond Clement sold 45,732 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $12.74, for a total value of $582,625.68. Following the transaction, the chief financial officer directly 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 position. The sale was disclosed in a legal filing 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 value of $1,068,912.62. Following the completion of the transaction, the chief executive officer directly owned 156,855 shares in the company, valued at $1,923,042.30. The trade was a 35.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FTK shares. Northland Securities raised Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price target for the company in a research note on Wednesday, August 6th. Alliance Global Partners initiated coverage on Flotek Industries in a research note on Thursday, June 12th. They set a "buy" rating and a $19.00 target price for the company. Wall Street Zen cut Flotek Industries from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Northland Capmk raised Flotek Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $14.33.

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).