Flotek Industries (NYSE:FTK) Trading Up 11.2% – Still a Buy?

Flotek Industries, Inc. (NYSE:FTK)’s share price was up 11.2% on Wednesday . The company traded as high as $16.54 and last traded at $17.0410. Approximately 88,013 shares were traded during trading, a decline of 70% from the average daily volume of 294,374 shares. The stock had previously closed at $15.33.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FTK shares. Northland Securities restated an “outperform” rating and set a $20.00 price objective on shares of Flotek Industries in a research report on Wednesday, December 31st. Lake Street Capital started 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 on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Flotek Industries in a research report on Friday, March 27th. Finally, Zacks Research downgraded shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Flotek Industries Trading Up 10.0%

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.63. The company has a market cap of $610.07 million, a P/E ratio of 20.28 and a beta of 1.46. The stock’s 50-day moving average is $16.56 and its two-hundred day moving average is $16.46.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Wednesday, March 11th. The oil and gas company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.07). Flotek Industries had a return on equity of 21.32% and a net margin of 12.87%.The business had revenue of $67.52 million during the quarter, compared to the consensus estimate of $53.37 million. As a group, equities research analysts predict that Flotek Industries, Inc. will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Flotek Industries news, CFO James Bond Clement sold 6,299 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $16.02, for a total value of $100,909.98. Following the transaction, the chief financial officer directly owned 122,837 shares in the company, valued at approximately $1,967,848.74. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. bought a new position in Flotek Industries in the first quarter worth approximately $272,000. Aristides Capital LLC raised its position in Flotek Industries by 4.6% in the fourth quarter. Aristides Capital LLC now owns 31,390 shares of the oil and gas company’s stock worth $541,000 after acquiring an additional 1,390 shares during the period. Invesco Ltd. bought a new position in Flotek Industries in the fourth quarter worth approximately $212,000. XTX Topco Ltd raised its position in Flotek Industries by 61.8% in the fourth quarter. XTX Topco Ltd now owns 30,116 shares of the oil and gas company’s stock worth $519,000 after acquiring an additional 11,498 shares during the period. Finally, nVerses Capital LLC bought a new position in Flotek Industries in the fourth quarter worth approximately $198,000. 10.90% of the stock is currently owned by institutional investors.

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.