James Bond Clement Sells 12,554 Shares of Flotek Industries (NYSE:FTK) Stock

Flotek Industries, Inc. (NYSE:FTK) CFO James Bond Clement sold 12,554 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $20.08, for a total value of $252,084.32. Following the transaction, the chief financial officer directly owned 115,324 shares of the company’s stock, valued at $2,315,705.92. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

James Bond Clement also recently made the following trade(s):

• On Tuesday, February 24th, James Bond Clement sold 6,299 shares of Flotek Industries stock. The shares were sold at an average price of $16.02, for a total value of $100,909.98.

Flotek Industries Stock Up 1.5%

Shares of FTK traded up $0.30 during midday trading on Monday, hitting $19.91. The company had a trading volume of 286,337 shares, compared to its average volume of 293,395. The company’s 50-day simple moving average is $16.78 and its 200-day simple moving average is $16.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.62 and a current ratio of 1.83. The firm has a market capitalization of $720.38 million, a P/E ratio of 25.53 and a beta of 1.39. Flotek Industries, Inc. has a 1 year low of $10.95 and a 1 year high of $20.63.

Flotek Industries (NYSE:FTK) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%.The firm had revenue of $70.05 million for the quarter, compared to analysts’ expectations of $63.08 million. As a group, sell-side analysts expect that Flotek Industries, Inc. will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Flotek Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Masters Capital Management LLC boosted its holdings in Flotek Industries by 8.9% in the 1st quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company’s stock valued at $18,488,000 after purchasing an additional 89,438 shares in the last quarter. Millennium Management LLC raised its stake in shares of Flotek Industries by 304.4% during the 3rd quarter. Millennium Management LLC now owns 809,398 shares of the oil and gas company’s stock worth $11,817,000 after buying an additional 609,268 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Flotek Industries by 71.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company’s stock valued at $11,736,000 after buying an additional 288,064 shares during the period. Royce & Associates LP lifted its holdings in shares of Flotek Industries by 41.6% in the 4th quarter. Royce & Associates LP now owns 507,125 shares of the oil and gas company’s stock valued at $8,738,000 after buying an additional 148,876 shares during the period. Finally, Invesco Ltd. purchased a new stake in shares of Flotek Industries in the second quarter valued at approximately $4,436,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Zacks Research downgraded shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Lake Street Capital began coverage on Flotek Industries in a research report on Thursday, January 29th. They issued a “buy” rating and a $25.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Flotek Industries currently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

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.