Millennium Management LLC Acquires Shares of 48,746 Flotek Industries, Inc. (NYSE:FTK)

Millennium Management LLC acquired a new stake in shares of Flotek Industries, Inc. (NYSE:FTK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 48,746 shares of the oil and gas company’s stock, valued at approximately $465,000. Millennium Management LLC owned about 0.16% of Flotek Industries as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hillsdale Investment Management Inc. bought a new position in Flotek Industries in the 4th quarter worth about $4,418,000. Geode Capital Management LLC grew its stake in Flotek Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 302,539 shares of the oil and gas company’s stock worth $2,885,000 after acquiring an additional 5,056 shares in the last quarter. Acuitas Investments LLC bought a new position in Flotek Industries in the 4th quarter worth about $2,586,000. Truist Financial Corp grew its stake in Flotek Industries by 3.6% in the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company’s stock worth $2,327,000 after acquiring an additional 8,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Flotek Industries by 71.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 145,678 shares of the oil and gas company’s stock worth $1,388,000 after acquiring an additional 60,504 shares in the last quarter. Institutional investors own 10.90% of the company’s stock.

Insider Buying and Selling at Flotek Industries

In related news, Director Matthew Wilks purchased 103,514 shares of the business’s stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $12.24 per share, for a total transaction of $1,267,011.36. Following the purchase, the director now owns 144,350 shares of the company’s stock, valued at $1,766,844. This trade represents a 253.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 149,766 shares of company stock valued at $1,841,758. 3.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Flotek Industries Price Performance

NYSE:FTK opened at $15.61 on Tuesday. The firm has a market cap of $465.96 million, a PE ratio of 60.04 and a beta of 1.39. The company has a 50-day moving average of $10.43 and a 200 day moving average of $9.22. Flotek Industries, Inc. has a 1-year low of $3.79 and a 1-year high of $16.57.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.06 by $0.11. The business had revenue of $55.36 million during the quarter, compared to analyst estimates of $44.50 million. Flotek Industries had a net margin of 4.58% and a return on equity of 7.76%. Sell-side analysts anticipate that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal 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).