Flotek Industries, Inc. (NYSE:FTK) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus: Five brokerages rate Flotek Industries a "Moderate Buy" (three buys, two holds) with an average 12‑month target price of $21.33.
• Insider and institutional activity: CFO James Bond Clement sold 6,299 shares at $16.02 (a 4.88% reduction), insiders own 3.02% of the stock, while institutions like Goldman Sachs and Jane Street substantially increased positions; institutional ownership is about 10.9%.
• Recent results and stock metrics: Q1 EPS of $0.08 missed estimates of $0.15 despite revenue beating ($67.5M vs. $53.4M); shares trade near $15.81 with a 52‑week range of $6.20–$20.41 and a market cap of roughly $572M.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.3333.

A number of brokerages recently issued reports on FTK. Zacks Research cut shares of Flotek Industries from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Flotek Industries in a report on Friday, March 27th. Northland Securities reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Flotek Industries in a report on Wednesday, December 31st. Finally, Lake Street Capital started coverage on shares of Flotek Industries in a report on Thursday, January 29th. They issued a "buy" rating and a $25.00 target price for the company.

Insider Transactions at Flotek Industries

In other Flotek Industries news, CFO James Bond Clement sold 6,299 shares of Flotek Industries stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total value of $100,909.98. Following the completion of the transaction, the chief financial officer directly owned 122,837 shares of the company's stock, valued at approximately $1,967,848.74. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.02% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FTK. Goldman Sachs Group Inc. raised its holdings in Flotek Industries by 27.9% in the first quarter. Goldman Sachs Group Inc. now owns 120,927 shares of the oil and gas company's stock worth $1,007,000 after buying an additional 26,400 shares during the last quarter. Jane Street Group LLC raised its holdings in Flotek Industries by 88.5% in the first quarter. Jane Street Group LLC now owns 100,151 shares of the oil and gas company's stock worth $834,000 after buying an additional 47,018 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Flotek Industries in the first quarter worth about $332,000. Rhumbline Advisers raised its holdings in Flotek Industries by 1,542.4% in the second quarter. Rhumbline Advisers now owns 21,630 shares of the oil and gas company's stock worth $319,000 after buying an additional 20,313 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Flotek Industries by 26.3% in the second quarter. American Century Companies Inc. now owns 39,140 shares of the oil and gas company's stock worth $578,000 after buying an additional 8,139 shares during the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

Flotek Industries Trading Up 0.2%

Shares of NYSE FTK opened at $15.81 on Monday. Flotek Industries has a 1 year low of $6.20 and a 1 year high of $20.41. The stock has a market cap of $571.84 million, a P/E ratio of 19.05 and a beta of 1.46. The firm has a 50-day moving average of $16.79 and a 200 day moving average of $16.42. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.63.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.07). Flotek Industries had a net margin of 12.87% and a return on equity of 21.32%. The business had revenue of $67.52 million for the quarter, compared to analysts' expectations of $53.37 million. As a group, sell-side analysts expect that Flotek Industries will post 0.29 EPS for the current fiscal year.

Flotek Industries Company 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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