Flotek Industries (NYSE:FTK) Reaches New 1-Year High - Should You Buy?

Key Points

• Flotek Industries hit a new 52-week high, touching $27.43 intraday before easing back, as the stock continues to trade near recent highs.
• Analyst sentiment is broadly positive: JonesTrading started coverage with a Buy rating and a $40 price target, while the consensus rating is now Moderate Buy with an average target of $28.33.
• The company’s latest earnings showed mixed results, with EPS of $0.12 missing estimates by a penny but revenue of $70.05 million beating expectations; insiders also showed some selling, including a CFO share sale in May.

Flotek Industries, Inc. (NYSE:FTK - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $27.43 and last traded at $26.2830, with a volume of 564867 shares changing hands. The stock had previously closed at $26.77.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FTK. JonesTrading assumed coverage on shares of Flotek Industries in a report on Thursday, July 9th. They issued a "buy" rating and a $40.00 price objective for the company. Weiss Ratings raised shares of Flotek Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.33.

Flotek Industries Trading Down 1.8%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.62. The firm has a market cap of $950.92 million, a price-to-earnings ratio of 33.70 and a beta of 1.43. The firm's fifty day moving average is $22.06 and its 200-day moving average is $18.73.

Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The business had revenue of $70.05 million for the quarter, compared to analyst estimates of $63.08 million. Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%. Equities analysts anticipate that Flotek Industries, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Flotek Industries news, CFO James Bond Clement sold 12,554 shares of Flotek Industries stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $20.08, for a total value of $252,084.32. Following the completion of the sale, the chief financial officer directly owned 115,324 shares in the company, valued at approximately $2,315,705.92. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Flotek Industries

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its position in Flotek Industries by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company's stock valued at $327,000 after buying an additional 770 shares in the last quarter. First Trust Advisors LP raised its stake in Flotek Industries by 3.2% during the 4th quarter. First Trust Advisors LP now owns 43,495 shares of the oil and gas company's stock worth $749,000 after buying an additional 1,335 shares during the period. Barclays PLC boosted its holdings in Flotek Industries by 6.5% in the fourth quarter. Barclays PLC now owns 22,204 shares of the oil and gas company's stock worth $383,000 after acquiring an additional 1,351 shares in the last quarter. Informed Momentum Co LLC boosted its holdings in Flotek Industries by 2.2% in the fourth quarter. Informed Momentum Co LLC now owns 63,959 shares of the oil and gas company's stock worth $1,102,000 after acquiring an additional 1,366 shares in the last quarter. Finally, Aristides Capital LLC grew its stake in Flotek Industries by 4.6% in the fourth quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company's stock valued at $541,000 after acquiring an additional 1,390 shares during the period. Institutional investors and hedge funds own 10.90% of the company's stock.

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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