Kathmere Capital Management LLC Invests $85,000 in Flotek Industries, Inc. (NYSE:FTK)

Kathmere Capital Management LLC bought a new stake in Flotek Industries, Inc. (NYSE:FTK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,232 shares of the oil and gas company’s stock, valued at approximately $85,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. purchased a new stake in Flotek Industries during the 4th quarter valued at about $148,000. Raymond James Financial Inc. purchased a new position in Flotek Industries in the 4th quarter worth approximately $513,000. Virtu Financial LLC purchased a new stake in shares of Flotek Industries in the fourth quarter valued at approximately $456,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Flotek Industries in the fourth quarter valued at approximately $4,418,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Flotek Industries by 4,017.3% in the fourth quarter. JPMorgan Chase & Co. now owns 31,497 shares of the oil and gas company’s stock valued at $300,000 after purchasing an additional 30,732 shares during the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Matthew Wilks bought 13,040 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $14.15 per share, with a total value of $184,516.00. Following the completion of the transaction, the director directly owned 157,390 shares in the company, valued at $2,227,068.50. This trade represents a 9.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 149,766 shares of company stock valued at $1,841,758. 3.02% of the stock is currently owned by company insiders.

Flotek Industries Trading Up 0.3%

Shares of FTK opened at $13.32 on Tuesday. The company’s 50-day moving average price is $14.27 and its 200 day moving average price is $10.33. Flotek Industries, Inc. has a 12-month low of $3.79 and a 12-month high of $16.87. The firm has a market cap of $397.48 million, a P/E ratio of 29.59 and a beta of 1.36.

Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Flotek Industries had a net margin of 7.09% and a return on equity of 12.76%. The business had revenue of $55.36 million during the quarter, compared to analysts’ expectations of $44.50 million. Equities research analysts forecast that Flotek Industries, Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Northland Capmk raised Flotek Industries to a “hold” rating in a research note on Tuesday, June 17th. Singular Research raised shares of Flotek Industries to a “moderate buy” rating in a report on Monday, March 17th. Alliance Global Partners started coverage on shares of Flotek Industries in a research report on Thursday, June 12th. They set a “buy” rating and a $19.00 price objective for the company. Wall Street Zen lowered shares of Flotek Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Northland Securities began coverage on shares of Flotek Industries in a report on Tuesday, June 17th. They set a “market perform” rating and a $16.00 price target for the company. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.33.

Flotek Industries Profile

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).