Raymond James Financial Inc. Takes $513,000 Position in Flotek Industries, Inc. (NYSE:FTK)

Raymond James Financial Inc. purchased a new position in Flotek Industries, Inc. (NYSE:FTK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 53,793 shares of the oil and gas company’s stock, valued at approximately $513,000. Raymond James Financial Inc. owned about 0.18% of Flotek Industries at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FTK. XTX Topco Ltd bought a new position in shares of Flotek Industries in the third quarter worth approximately $53,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flotek Industries during the third quarter valued at approximately $60,000. Barclays PLC purchased a new position in Flotek Industries in the 3rd quarter worth approximately $66,000. Charles Schwab Investment Management Inc. bought a new position in Flotek Industries in the 4th quarter valued at approximately $148,000. Finally, Bailard Inc. purchased a new stake in Flotek Industries during the 4th quarter valued at $360,000. Institutional investors own 10.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Singular Research raised Flotek Industries to a “moderate buy” rating in a report on Monday, March 17th.

Flotek Industries Stock Down 1.6 %

FTK opened at $6.50 on Tuesday. The stock has a market capitalization of $193.73 million, a price-to-earnings ratio of 24.98 and a beta of 0.87. The firm has a 50 day moving average price of $8.44 and a 200-day moving average price of $7.60. Flotek Industries, Inc. has a twelve month low of $3.13 and a twelve month high of $10.35.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Monday, March 10th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The firm had revenue of $50.76 million for the quarter, compared to the consensus estimate of $50.08 million. During the same period last year, the business posted $0.07 EPS. As a group, analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current year.

Flotek Industries Company 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).