Flotek Industries, Inc. (NYSE:FTK) CFO James Bond Clement Sells 45,732 Shares

Key Points

• Flotek Industries CFO James Bond Clement sold 45,732 shares of the company's stock for a total value of approximately $582,626, representing a 32.39% decrease in ownership.
• The company's stock price fell 5.0% recently, trading at $12.03, with a twelve-month trading range between $3.79 and $16.87.
• Flotek Industries reported $0.16 earnings per share for the last quarter, exceeding analysts' expectations, and has received a mix of upgrades and downgrades from research analysts.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) CFO James Bond Clement sold 45,732 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $12.74, for a total value of $582,625.68. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Flotek Industries Stock Down 5.0%

NYSE:FTK traded down $0.63 during trading hours on Thursday, reaching $12.03. 615,817 shares of the stock were exchanged, compared to its average volume of 390,423. Flotek Industries, Inc. has a twelve month low of $3.79 and a twelve month high of $16.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.59 and a quick ratio of 1.36. The firm has a 50 day moving average of $13.77 and a 200 day moving average of $10.86. The stock has a market cap of $359.07 million, a PE ratio of 27.33 and a beta of 1.32.

Flotek Industries (NYSE:FTK - Get Free Report) last released 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 firm had revenue of $58.35 million during the quarter, compared to the consensus estimate of $52.40 million. On average, equities analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

FTK has been the subject of several research analyst reports. Northland Capmk upgraded Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered Flotek Industries from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 3rd. Northland Securities upgraded Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 price objective for the company in a research report on Wednesday, August 6th. Finally, Alliance Global Partners initiated coverage on Flotek Industries in a research report on Thursday, June 12th. They issued a "buy" rating and a $19.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.33.

Hedge Funds Weigh In On Flotek Industries

A number of large investors have recently bought and sold shares of FTK. JPMorgan Chase & Co. boosted its position in Flotek Industries by 4,017.3% during the 4th quarter. JPMorgan Chase & Co. now owns 31,497 shares of the oil and gas company's stock worth $300,000 after acquiring an additional 30,732 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Flotek Industries by 1.7% in 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 during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Flotek Industries by 306.2% in the 4th quarter. Renaissance Technologies LLC now owns 85,700 shares of the oil and gas company's stock valued at $817,000 after buying an additional 64,600 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Flotek Industries in the 4th quarter valued at approximately $513,000. Finally, EAM Investors LLC acquired a new stake in shares of Flotek Industries in the 4th quarter valued at approximately $941,000. Institutional investors and hedge funds own 10.90% of the company's stock.

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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