Flotek Industries, Inc. (NYSE:FTK) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its position in Flotek Industries, Inc. (NYSE:FTK - Free Report) by 61.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,847 shares of the oil and gas company's stock after buying an additional 38,174 shares during the quarter. Northern Trust Corp owned 0.34% of Flotek Industries worth $952,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of Flotek Industries in the 4th quarter worth $42,000. Geode Capital Management LLC increased its position in Flotek Industries by 1.7% during the 4th 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 in the last quarter. Truist Financial Corp increased its holdings in shares of Flotek Industries by 3.6% in the fourth quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company's stock valued at $2,327,000 after purchasing an additional 8,500 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in shares of Flotek Industries in the fourth quarter valued at about $148,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Flotek Industries in the fourth quarter valued at about $182,000. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

Flotek Industries Stock Up 0.3%

Shares of FTK traded up $0.04 during mid-day trading on Tuesday, reaching $14.65. The company had a trading volume of 391,758 shares, compared to its average volume of 204,066. Flotek Industries, Inc. has a 52-week low of $3.79 and a 52-week high of $16.57. The stock has a market capitalization of $436.95 million, a P/E ratio of 56.35 and a beta of 1.00. The stock has a 50 day moving average of $9.92 and a two-hundred day moving average of $9.02.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.11. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The firm had revenue of $55.36 million for the quarter, compared to the consensus estimate of $44.50 million. On average, sell-side analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Flotek Industries news, Director Matthew Wilks acquired 32,810 shares of the company's stock in a transaction on Friday, May 9th. The shares were bought at an average cost of $11.71 per share, with a total value of $384,205.10. Following the completion of the acquisition, the director now owns 72,006 shares in the company, valued at approximately $843,190.26. This trade represents a 83.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have acquired 149,766 shares of company stock worth $1,841,758. 2.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Singular Research upgraded Flotek Industries to a "moderate buy" rating in a research note on Monday, March 17th.

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).