Cetera Investment Advisers Takes $628,000 Position in Flotek Industries, Inc. (NYSE:FTK)

Cetera Investment Advisers purchased a new stake in Flotek Industries, Inc. (NYSE:FTK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 75,402 shares of the oil and gas company’s stock, valued at approximately $628,000. Cetera Investment Advisers owned approximately 0.25% of Flotek Industries at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of FTK. Tower Research Capital LLC TRC acquired a new stake in Flotek Industries during the fourth quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flotek Industries in the fourth quarter valued at about $57,000. Kathmere Capital Management LLC bought a new position in Flotek Industries during the 1st quarter worth approximately $85,000. Victory Capital Management Inc. bought a new position in Flotek Industries during the 1st quarter worth approximately $96,000. Finally, Balyasny Asset Management L.P. bought a new position in Flotek Industries during the 4th quarter worth approximately $99,000. 10.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flotek Industries

In other news, CFO James Bond Clement sold 45,732 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $12.74, for a total transaction of $582,625.68. Following the transaction, the chief financial officer owned 95,439 shares in the company, valued at approximately $1,215,892.86. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Gillis Ezell sold 87,187 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $12.26, for a total transaction of $1,068,912.62. Following the sale, the chief executive officer directly owned 156,855 shares of the company’s stock, valued at approximately $1,923,042.30. The trade was a 35.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.02% of the stock is owned by insiders.

Flotek Industries Price Performance

Shares of NYSE FTK opened at $11.94 on Friday. The stock has a market capitalization of $356.53 million, a price-to-earnings ratio of 27.14 and a beta of 1.32. The business has a 50-day moving average of $13.67 and a 200-day moving average of $10.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.59 and a quick ratio of 1.36. Flotek Industries, Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $16.87.

Flotek Industries (NYSE:FTK) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $58.35 million for the quarter, compared to analysts’ expectations of $52.40 million. Flotek Industries had a net margin of 6.59% and a return on equity of 17.67%. As a group, sell-side analysts predict that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FTK has been the topic of several recent research reports. Northland Securities raised Flotek Industries from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a report on Wednesday, August 6th. Northland Capmk raised Flotek Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Wall Street Zen cut Flotek Industries from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 3rd. Finally, Alliance Global Partners assumed coverage on Flotek Industries in a research report on Thursday, June 12th. They issued a “buy” rating and a $19.00 price target for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $14.33.

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).