Flotek Industries Inc (NYSE:FTK) – Research analysts at Seaport Global Securities lowered their Q1 2018 EPS estimates for shares of Flotek Industries in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst S. Randhawa now expects that the oil and gas company will earn $0.05 per share for the quarter, down from their previous estimate of $0.06. Seaport Global Securities also issued estimates for Flotek Industries’ Q2 2018 earnings at $0.07 EPS and Q3 2019 earnings at $0.15 EPS.
Flotek Industries (NYSE:FTK) last released its earnings results on Tuesday, February 20th. The oil and gas company reported $0.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.03. The company had revenue of $72.50 million for the quarter, compared to analyst estimates of $72.85 million. Flotek Industries had a negative net margin of 8.64% and a negative return on equity of 0.21%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS.
Flotek Industries (NYSE FTK) opened at $5.95 on Thursday. Flotek Industries has a 1-year low of $4.14 and a 1-year high of $14.51.
Several hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new position in shares of Flotek Industries during the 4th quarter worth about $133,000. Two Sigma Investments LP lifted its holdings in shares of Flotek Industries by 583.7% during the 4th quarter. Two Sigma Investments LP now owns 481,754 shares of the oil and gas company’s stock worth $2,245,000 after acquiring an additional 411,289 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Flotek Industries by 2,671.5% during the 4th quarter. Guggenheim Capital LLC now owns 325,323 shares of the oil and gas company’s stock worth $1,516,000 after acquiring an additional 313,585 shares during the period. Deutsche Bank AG lifted its holdings in shares of Flotek Industries by 58.1% during the 4th quarter. Deutsche Bank AG now owns 819,925 shares of the oil and gas company’s stock worth $3,819,000 after acquiring an additional 301,356 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Flotek Industries by 31.3% during the 4th quarter. Renaissance Technologies LLC now owns 340,787 shares of the oil and gas company’s stock worth $1,588,000 after acquiring an additional 81,209 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.
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Flotek Industries Company Profile
Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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