Jefferies Financial Group Inc. Boosts Holdings in Flotek Industries, Inc. (NYSE:FTK)

Jefferies Financial Group Inc. grew its stake in shares of Flotek Industries, Inc. (NYSE:FTK) by 3.2% during the first quarter, HoldingsChannel reports. The firm owned 51,581 shares of the oil and gas company’s stock after purchasing an additional 1,581 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Flotek Industries were worth $430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Navellier & Associates Inc. purchased a new position in shares of Flotek Industries in the 1st quarter valued at approximately $333,000. Cetera Investment Advisers bought a new stake in shares of Flotek Industries during the 1st quarter valued at $628,000. Royce & Associates LP bought a new stake in shares of Flotek Industries during the 1st quarter valued at $1,167,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Flotek Industries in the 1st quarter worth about $645,000. Finally, Victory Capital Management Inc. bought a new position in shares of Flotek Industries in the 1st quarter worth about $96,000. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Flotek Industries Stock Performance

Shares of FTK stock opened at $12.05 on Thursday. The company has a market capitalization of $359.72 million, a price-to-earnings ratio of 27.39 and a beta of 1.32. Flotek Industries, Inc. has a one year low of $3.79 and a one year high of $16.87. The company’s 50-day moving average is $13.89 and its 200 day moving average is $10.71.

Flotek Industries (NYSE:FTK) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Flotek Industries had a net margin of 6.59% and a return on equity of 16.03%. The firm had revenue of $58.35 million for the quarter, compared to the consensus estimate of $52.40 million. As a group, research analysts predict that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Flotek Industries

In other Flotek Industries news, Director Matthew Wilks bought 103,514 shares of Flotek Industries stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $12.24 per share, with a total value of $1,267,011.36. Following the acquisition, the director owned 144,350 shares in the company, valued at approximately $1,766,844. This trade represents a 253.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 149,766 shares of company stock valued at $1,841,758. Corporate insiders own 3.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Alliance Global Partners initiated coverage on shares of Flotek Industries in a research note on Thursday, June 12th. They set a “buy” rating and a $19.00 price objective on the stock. Wall Street Zen lowered shares of Flotek Industries from a “strong-buy” rating to a “buy” rating in a report on Sunday. Northland Securities upgraded Flotek Industries from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a research note on Wednesday. Finally, Northland Capmk raised Flotek Industries to a “hold” rating in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Flotek Industries presently has a consensus rating of “Moderate Buy” and an average target price of $14.33.

About Flotek Industries

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).