Masters Capital Management LLC Has $18.49 Million Holdings in Flotek Industries, Inc. $FTK

Key Points

• Masters Capital Management increased its Flotek Industries stake by 8.9% in the first quarter, holding 1.09 million shares worth approximately $18.49 million, or 3.01% of the company.
• Institutional investors and hedge funds collectively own 10.90% of Flotek’s stock, while CFO James Bond Clement sold 12,554 shares for about $252,000; insiders retain a 2.40% ownership stake.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $28.33, including a new $40 target from JonesTrading. Flotek’s latest quarterly revenue exceeded estimates, although earnings per share fell slightly short.

Masters Capital Management LLC increased its stake in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,089,438 shares of the oil and gas company's stock after buying an additional 89,438 shares during the quarter. Masters Capital Management LLC owned 3.01% of Flotek Industries worth $18,488,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Quarry LP grew its position in Flotek Industries by 97.2% in the third quarter. Quarry LP now owns 3,855 shares of the oil and gas company's stock valued at $56,000 after acquiring an additional 1,900 shares during the period. New York State Common Retirement Fund bought a new position in shares of Flotek Industries during the second quarter valued at $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flotek Industries during the second quarter valued at $115,000. Deutsche Bank AG bought a new position in shares of Flotek Industries during the fourth quarter valued at $150,000. Finally, Mangrove Partners IM LLC acquired a new stake in shares of Flotek Industries in the 4th quarter valued at $177,000. Institutional investors and hedge funds own 10.90% of the company's stock.

Insider Buying and Selling

In other Flotek Industries news, CFO James Bond Clement sold 12,554 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $20.08, for a total transaction of $252,084.32. Following the sale, the chief financial officer owned 115,324 shares of the company's stock, valued at $2,315,705.92. This represents a 9.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FTK shares. JonesTrading started coverage on shares of Flotek Industries in a research report on Thursday, July 9th. They set a "buy" rating and a $40.00 target price for the company. Weiss Ratings raised shares of Flotek Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $28.33.

Flotek Industries Price Performance

Flotek Industries stock opened at $25.85 on Monday. The business's fifty day moving average is $23.24 and its two-hundred day moving average is $19.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.83. The firm has a market cap of $935.40 million, a P/E ratio of 33.15 and a beta of 1.43. Flotek Industries, Inc. has a 52 week low of $10.95 and a 52 week high of $28.50.

Flotek Industries (NYSE:FTK - Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). Flotek Industries had a net margin of 11.83% and a return on equity of 20.70%. The business had revenue of $70.05 million during the quarter, compared to analyst estimates of $63.08 million. Equities research analysts forecast that Flotek Industries, Inc. will post 0.6 earnings per share for the current fiscal year.

About Flotek Industries

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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