Flotek Industries, Inc. $FTK Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Flotek Industries by 27.9% during Q1, acquiring an additional 26,400 shares, owning 120,927 shares valued at approximately $1,007,000.
• Flotek Industries reported $0.16 EPS for its latest quarter, exceeding analyst expectations of $0.13, along with revenue of $58.35 million, which also surpassed estimates.
• Several analysts have recently upgraded Flotek Industries, with a consensus rating of "Buy" and an average price target of $14.33.

Goldman Sachs Group Inc. increased its position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) by 27.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,927 shares of the oil and gas company's stock after buying an additional 26,400 shares during the period. Goldman Sachs Group Inc. owned 0.41% of Flotek Industries worth $1,007,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC purchased a new stake in Flotek Industries during the first quarter worth $85,000. Victory Capital Management Inc. purchased a new stake in Flotek Industries during the first quarter worth $96,000. Bard Associates Inc. acquired a new position in Flotek Industries in the 1st quarter worth about $111,000. Man Group plc acquired a new position in Flotek Industries in the 4th quarter worth about $127,000. Finally, EntryPoint Capital LLC acquired a new position in Flotek Industries in the 1st quarter worth about $204,000. 10.90% of the stock is owned by hedge funds and other institutional investors.

Flotek Industries Stock Up 1.1%

FTK stock opened at $13.16 on Tuesday. The company has a market cap of $392.96 million, a price-to-earnings ratio of 29.91 and a beta of 1.06. The company has a current ratio of 1.59, a quick ratio of 1.36 and a debt-to-equity ratio of 0.55. Flotek Industries, Inc. has a 12 month low of $4.55 and a 12 month high of $16.87. The firm has a 50-day moving average of $12.17 and a two-hundred day moving average of $11.58.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FTK shares. Wall Street Zen raised Flotek Industries from a "hold" rating to a "buy" rating in a report on Saturday. Northland Capmk raised Flotek Industries from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. 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 report on Wednesday, August 6th. Finally, Alliance Global Partners started coverage on Flotek Industries in a report on Thursday, June 12th. They issued a "buy" rating and a $19.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, Flotek Industries currently has a consensus rating of "Buy" and an average price target of $14.33.

Insider Transactions at Flotek Industries

In other Flotek Industries news, CEO Ryan Gillis Ezell sold 87,187 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 156,855 shares in the company, valued at approximately $1,923,042.30. This represents a 35.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Bond Clement sold 45,732 shares of the business's stock in a transaction dated 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 in the company, valued at $1,215,892.86. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.02% of the stock is currently owned by corporate insiders.

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).

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