Flotek Industries, Inc. (NYSE:FTK) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Flotek Industries has received an average analyst rating of "Buy" from four brokerages, with a twelve-month target price set at approximately $14.33.
• Recent insider trading includes CFO James Bond Clement and CEO Ryan Gillis Ezell selling significant portions of their shares, decreasing their ownership stakes by 32.39% and 35.73% respectively.
• Flotek Industries reported a quarterly revenue of $58.35 million, surpassing analyst estimates of $52.40 million and demonstrating a solid net margin of 6.59%.

Shares of Flotek Industries, Inc. (NYSE:FTK - Get Free Report) have been assigned an average rating of "Buy" from the four brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.3333.

A number of equities analysts have commented on the stock. Alliance Global Partners assumed coverage on shares of Flotek Industries in a research report on Thursday, June 12th. They issued a "buy" rating and a $19.00 price target on the stock. Northland Securities upgraded shares of Flotek Industries from a "market perform" rating to an "outperform" rating and set a $16.00 target price on the stock in a research report on Wednesday, August 6th. Northland Capmk upgraded shares of Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Flotek Industries from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th.

Insider Buying and Selling

In other news, CFO James Bond Clement sold 45,732 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $12.74, for a total transaction of $582,625.68. Following the transaction, the chief financial officer directly owned 95,439 shares in the company, valued at approximately $1,215,892.86. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Gillis Ezell sold 87,187 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $12.26, for a total transaction of $1,068,912.62. Following the transaction, the chief executive officer owned 156,855 shares in the company, valued at $1,923,042.30. The trade was a 35.73% 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.

Hedge Funds Weigh In On Flotek Industries

Several large investors have recently bought and sold shares of FTK. Invesco Ltd. acquired a new position in Flotek Industries in the second quarter valued at approximately $4,436,000. S Squared Technology LLC acquired a new position in Flotek Industries in the first quarter valued at approximately $2,170,000. Geode Capital Management LLC lifted its holdings in Flotek Industries by 55.9% in the second quarter. Geode Capital Management LLC now owns 485,413 shares of the oil and gas company's stock valued at $7,167,000 after buying an additional 174,144 shares during the period. Royce & Associates LP acquired a new position in Flotek Industries in the first quarter valued at approximately $1,167,000. Finally, Marshall Wace LLP lifted its holdings in Flotek Industries by 160.8% in the second quarter. Marshall Wace LLP now owns 206,344 shares of the oil and gas company's stock valued at $3,046,000 after buying an additional 127,215 shares during the period. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Flotek Industries Price Performance

NYSE:FTK opened at $13.35 on Thursday. The firm has a market cap of $398.69 million, a PE ratio of 30.35 and a beta of 1.06. Flotek Industries has a 12 month low of $4.55 and a 12 month high of $16.87. The company has a quick ratio of 1.36, a current ratio of 1.59 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $12.19 and its two-hundred day moving average price is $11.60.

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 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The firm had revenue of $58.35 million for the quarter, compared to analyst estimates 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. On average, equities analysts anticipate that Flotek Industries will post 0.29 EPS for the current fiscal year.

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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