Flotek Industries, Inc. (NYSE:FTK) Given Average Rating of “Moderate Buy” by Analysts

Shares of Flotek Industries, Inc. (NYSE:FTK) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $28.3333.

Several analysts have recently issued reports on the stock. JonesTrading initiated coverage on shares of Flotek Industries in a research report on Thursday. They issued a “buy” rating and a $40.00 price target on the stock. Weiss Ratings upgraded Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th.

Flotek Industries Stock Performance

Shares of Flotek Industries stock traded up $1.30 on Thursday, reaching $24.39. 22,496 shares of the company traded hands, compared to its average volume of 295,989. Flotek Industries has a 52 week low of $10.95 and a 52 week high of $25.54. 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 company has a 50 day moving average of $21.16 and a 200 day moving average of $18.45. The firm has a market capitalization of $882.47 million, a PE ratio of 30.64 and a beta of 1.43.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Flotek Industries had a net margin of 11.83% and a return on equity of 20.70%. The firm had revenue of $70.05 million for the quarter, compared to analysts’ expectations of $63.08 million. Equities analysts forecast that Flotek Industries 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 dated Monday, May 18th. The stock was sold at an average price of $20.08, for a total transaction of $252,084.32. Following the completion of the transaction, the chief financial officer owned 115,324 shares of the company’s stock, valued at $2,315,705.92. The trade was a 9.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP raised its position in shares of Flotek Industries by 97.2% in the third quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock worth $56,000 after buying an additional 1,900 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in Flotek Industries in the second quarter valued at approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Flotek Industries during the second quarter valued at approximately $115,000. Deutsche Bank AG purchased a new position in Flotek Industries in the 4th quarter worth approximately $150,000. Finally, Mangrove Partners IM LLC purchased a new stake in shares of Flotek Industries during the 4th quarter valued at $177,000. 10.90% of the stock is owned by institutional investors.

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.