Northland Securities Begins Coverage on Flotek Industries (NYSE:FTK)

Northland Securities started coverage on shares of Flotek Industries (NYSE:FTK - Get Free Report) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a "market perform" rating and a $16.00 price target on the oil and gas company's stock. Northland Securities' target price points to a potential upside of 3.29% from the stock's current price.

FTK has been the topic of a number of other research reports. Wall Street Zen cut shares of Flotek Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday. Alliance Global Partners started coverage on shares of Flotek Industries in a report on Thursday, June 12th. They set a "buy" rating and a $19.00 price target for the company. Finally, Singular Research upgraded shares of Flotek Industries to a "moderate buy" rating in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $14.33.

Flotek Industries Stock Performance

NYSE FTK opened at $15.49 on Tuesday. The firm has a market capitalization of $462.41 million, a price-to-earnings ratio of 60.18 and a beta of 1.39. Flotek Industries has a one year low of $3.79 and a one year high of $16.87. The company's 50 day moving average price is $11.38 and its 200 day moving average price is $9.49.

Flotek Industries (NYSE:FTK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.11. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. The business had revenue of $55.36 million for the quarter, compared to analyst estimates of $44.50 million. Sell-side analysts forecast that Flotek Industries will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flotek Industries news, Director Matthew Wilks purchased 103,514 shares of the company's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $12.24 per share, for a total transaction of $1,267,011.36. Following the completion of the transaction, the director now owns 144,350 shares in the company, valued at $1,766,844. The trade was 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 the SEC website. In the last three months, insiders have purchased 149,766 shares of company stock worth $1,841,758. 3.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Truist Financial Corp lifted its holdings in shares of Flotek Industries by 3.6% during the fourth quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company's stock valued at $2,327,000 after purchasing an additional 8,500 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Flotek Industries by 306.2% during the fourth quarter. Renaissance Technologies LLC now owns 85,700 shares of the oil and gas company's stock valued at $817,000 after acquiring an additional 64,600 shares during the period. Marshall Wace LLP purchased a new stake in shares of Flotek Industries in the 4th quarter valued at approximately $454,000. Hillsdale Investment Management Inc. acquired a new position in Flotek Industries in the 4th quarter worth approximately $4,418,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Flotek Industries during the 4th quarter valued at $182,000. Institutional investors own 10.90% of the company's stock.

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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