Flotek Industries, Inc. $FTK Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Flotek Industries, Inc. (NYSE:FTK) by 55.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,413 shares of the oil and gas company’s stock after purchasing an additional 174,144 shares during the period. Geode Capital Management LLC owned approximately 1.63% of Flotek Industries worth $7,167,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers purchased a new position in shares of Flotek Industries in the 1st quarter worth $628,000. Bard Associates Inc. acquired a new stake in Flotek Industries during the first quarter worth about $111,000. Informed Momentum Co LLC increased its stake in Flotek Industries by 1.4% during the first quarter. Informed Momentum Co LLC now owns 100,105 shares of the oil and gas company’s stock worth $834,000 after acquiring an additional 1,380 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Flotek Industries in the 1st quarter valued at about $258,000. Finally, Algert Global LLC lifted its stake in shares of Flotek Industries by 195.1% in the 1st quarter. Algert Global LLC now owns 31,490 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 20,820 shares in the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Flotek Industries news, Director Harshavardhan V. Agadi sold 66,956 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $14.71, for a total value of $984,922.76. Following the transaction, the director owned 197,265 shares in the company, valued at $2,901,768.15. The trade was a 25.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Flotek Industries in a report on Monday. Wall Street Zen lowered shares of Flotek Industries from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Flotek Industries has a consensus rating of “Buy” and a consensus target price of $17.50.

Flotek Industries Stock Up 2.4%

NYSE FTK opened at $16.40 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.77 and a debt-to-equity ratio of 0.36. Flotek Industries, Inc. has a fifty-two week low of $6.05 and a fifty-two week high of $18.96. The business has a 50 day moving average price of $15.49 and a two-hundred day moving average price of $14.09. The stock has a market cap of $492.83 million, a PE ratio of 18.42 and a beta of 1.46.

Flotek Industries (NYSE:FTK) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $56.03 million for the quarter, compared to analysts’ expectations of $52.90 million. Flotek Industries had a net margin of 14.48% and a return on equity of 22.62%. As a group, sell-side analysts predict 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).