Flotek Industries (NYSE:FTK) Announces Quarterly 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) announced 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 return on equity of 16.03% and a net margin of 6.59%. The business had revenue of $58.35 million for the quarter, compared to analysts' expectations of $52.40 million. Flotek Industries updated its FY 2025 guidance to EPS.

Flotek Industries Trading Up 5.2%

Shares of Flotek Industries stock traded up $0.63 during trading hours on Thursday, reaching $12.65. 347,459 shares of the company's stock were exchanged, compared to its average volume of 378,290. The stock has a market cap of $377.60 million, a P/E ratio of 28.77 and a beta of 1.32. The company has a 50 day moving average of $13.89 and a two-hundred day moving average of $10.71. Flotek Industries has a fifty-two week low of $3.79 and a fifty-two week high of $16.87.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FTK. Alliance Global Partners initiated coverage on Flotek Industries in a report on Thursday, June 12th. They issued a "buy" rating and a $19.00 price objective for the company. Wall Street Zen cut shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a report on Sunday. 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 note on Wednesday. Finally, Northland Capmk raised Flotek Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $14.33.

Insider Activity at Flotek Industries

In related news, Director Matthew Wilks bought 103,514 shares of the business's stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $12.24 per share, for a total transaction of $1,267,011.36. Following the transaction, the director owned 144,350 shares in the company, valued at $1,766,844. The trade was a 253.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders purchased 149,766 shares of company stock worth $1,841,758. Insiders own 3.02% of the company's stock.

Institutional Trading of Flotek Industries

Several hedge funds and other institutional investors have recently made changes to their positions in FTK. Acadian Asset Management LLC acquired a new stake in Flotek Industries in the first quarter worth $332,000. Jane Street Group LLC raised its stake in Flotek Industries by 88.5% during the 1st 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 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 acquiring an additional 26,400 shares in the last quarter. 10.90% of the stock is currently owned by institutional investors.

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).