Flotek Industries (NYSE:FTK) Posts Earnings Results

Key Points

• Flotek Industries reported an earnings per share (EPS) of $0.16 for the quarter, surpassing analysts' expectations by $0.04.
• The company's stock experienced an increase, trading at $11.86 after 522,093 shares were exchanged on Tuesday.
• Flotek Industries has received a mixed bag of ratings from analysts, with a current average rating of "Moderate Buy" and a price target of $14.33.

Flotek Industries (NYSE:FTK - Get Free Report) issued its quarterly earnings results on Tuesday. The oil and gas company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03, Zacks reports. Flotek Industries had a net margin of 6.59% and a return on equity of 17.67%. The company had revenue of $58.35 million during the quarter, compared to the consensus estimate of $52.40 million. Flotek Industries updated its FY 2025 guidance to EPS.

Flotek Industries Trading Up 8.9%

NYSE:FTK traded up $1.13 on Friday, hitting $13.83. The company had a trading volume of 459,367 shares, compared to its average volume of 425,003. The stock has a market capitalization of $412.80 million, a price-to-earnings ratio of 31.43 and a beta of 1.32. The firm has a 50 day moving average of $13.83 and a two-hundred day moving average of $10.78. Flotek Industries has a 52 week low of $3.79 and a 52 week high of $16.87.

Insider Buying and Selling

In related news, Director Matthew Wilks acquired 103,514 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $12.24 per share, with a total value of $1,267,011.36. Following the purchase, the director directly owned 144,350 shares in the company, valued at approximately $1,766,844. This trade represents a 253.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 116,956 shares of company stock valued at $1,457,553. 3.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flotek Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in shares of Flotek Industries during the first quarter worth $332,000. Jane Street Group LLC increased its position in shares of Flotek Industries by 88.5% during 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 period. Finally, Goldman Sachs Group Inc. boosted its position in Flotek Industries by 27.9% during the first quarter. Goldman Sachs Group Inc. now owns 120,927 shares of the oil and gas company's stock valued at $1,007,000 after acquiring an additional 26,400 shares during the last quarter. 10.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Flotek Industries

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).