State of Wyoming Sells 33,219 Shares of Flotek Industries, Inc. $FTK

State of Wyoming reduced its holdings in Flotek Industries, Inc. (NYSE:FTK) by 89.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,913 shares of the oil and gas company’s stock after selling 33,219 shares during the quarter. State of Wyoming’s holdings in Flotek Industries were worth $57,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in Flotek Industries in the second quarter valued at $50,000. New York State Common Retirement Fund bought a new stake in shares of Flotek Industries in the 2nd quarter valued at about $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flotek Industries in the second quarter valued at about $115,000. D Orazio & Associates Inc. bought a new position in shares of Flotek Industries during the second quarter worth about $153,000. Finally, AlphaQuest LLC lifted its stake in shares of Flotek Industries by 5,481.5% in the third quarter. AlphaQuest LLC now owns 12,670 shares of the oil and gas company’s stock worth $185,000 after acquiring an additional 12,443 shares during the period. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Trading Up 4.2%

NYSE:FTK opened at $17.33 on Friday. Flotek Industries, Inc. has a 12 month low of $6.05 and a 12 month high of $20.09. The company has a current ratio of 1.77, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $520.91 million, a price-to-earnings ratio of 19.47 and a beta of 1.44. The firm has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $15.12.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FTK shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Flotek Industries in a research report on Monday, December 29th. Lake Street Capital began coverage on shares of Flotek Industries in a research report on Thursday, January 29th. They set a “buy” rating and a $25.00 price objective for the company. Zacks Research lowered shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Northland Securities reaffirmed an “outperform” rating and set a $20.00 price target on shares of Flotek Industries in a research report on Wednesday, December 31st. Finally, Wall Street Zen downgraded Flotek Industries from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Flotek Industries currently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

About Flotek Industries

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.