Dimensional Fund Advisors LP Purchases 288,064 Shares of Flotek Industries, Inc. $FTK

Key Points

• Dimensional Fund Advisors increased its Flotek Industries stake by 71.4%, purchasing 288,064 additional shares and bringing its holdings to 691,593 shares, worth approximately $11.7 million.
• Analyst sentiment is favorable: four analysts rate FTK a Buy and one rates it Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $28.33.
• Flotek exceeded quarterly expectations, reporting $0.26 in EPS versus $0.13 expected and revenue of $99.37 million against a $69.51 million consensus estimate. Shares opened at $35.18, near the company’s 52-week high of $37.53.

Dimensional Fund Advisors LP lifted its position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) by 71.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 691,593 shares of the oil and gas company's stock after buying an additional 288,064 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.91% of Flotek Industries worth $11,736,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers increased its stake in Flotek Industries by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company's stock worth $327,000 after buying an additional 770 shares in the last quarter. First Trust Advisors LP raised its holdings in Flotek Industries by 3.2% during the fourth quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company's stock valued at $749,000 after acquiring an additional 1,335 shares during the period. Barclays PLC lifted its position in shares of Flotek Industries by 6.5% in the fourth quarter. Barclays PLC now owns 22,204 shares of the oil and gas company's stock valued at $383,000 after acquiring an additional 1,351 shares in the last quarter. Informed Momentum Co LLC lifted its position in shares of Flotek Industries by 2.2% in the fourth quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company's stock valued at $1,102,000 after acquiring an additional 1,366 shares in the last quarter. Finally, Aristides Capital LLC boosted its stake in shares of Flotek Industries by 4.6% in the fourth quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company's stock worth $541,000 after acquiring an additional 1,390 shares during the period. Hedge funds and other institutional investors own 10.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings upgraded Flotek Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. JonesTrading assumed coverage on Flotek Industries in a report on Thursday, July 9th. They issued a "buy" rating and a $40.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Flotek Industries presently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

Flotek Industries Stock Performance

FTK opened at $35.18 on Friday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 35.54 and a beta of 1.43. The company has a fifty day moving average of $24.79 and a 200 day moving average of $19.87. Flotek Industries, Inc. has a fifty-two week low of $10.95 and a fifty-two week high of $37.53.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.13 by $0.13. Flotek Industries had a net margin of 12.97% and a return on equity of 21.57%. The business had revenue of $99.37 million for the quarter, compared to analysts' expectations of $69.51 million. On average, equities research analysts forecast that Flotek Industries, Inc. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Flotek Industries

In other news, CFO James Bond Clement sold 12,554 shares of Flotek Industries stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $20.08, for a total value of $252,084.32. Following the sale, the chief financial officer directly owned 115,324 shares of the company's stock, valued at approximately $2,315,705.92. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.

Flotek Industries Profile

Flotek Industries, Inc NYSE: FTK is a Houston-based oilfield services provider specializing in innovative chemical technologies for the upstream energy sector. The company develops, manufactures and markets specialty drilling fluids, completion fluids and production chemicals that enhance drilling efficiency, optimize well performance and mitigate operational risks. Flotek's solutions are designed to improve drilling rates of penetration, reduce nonproductive time and address challenging downhole environments, including high-pressure/high-temperature wells and sour service conditions.

Flotek's operations are organized into three core business segments: Drilling & Completion Fluids, Production Chemicals & Process Management, and Water Solutions.

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