175,519 Shares in Flotek Industries, Inc. $FTK Acquired by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in Flotek Industries, Inc. (NYSE:FTK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 175,519 shares of the oil and gas company’s stock, valued at approximately $2,563,000. CenterBook Partners LP owned about 0.59% of Flotek Industries as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Rhumbline Advisers grew its position in shares of Flotek Industries by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 22,400 shares of the oil and gas company’s stock valued at $327,000 after buying an additional 770 shares during the last quarter. Navellier & Associates Inc. grew its stake in Flotek Industries by 98.1% during the 3rd quarter. Navellier & Associates Inc. now owns 82,529 shares of the oil and gas company’s stock worth $1,205,000 after buying an additional 40,868 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Flotek Industries during the third quarter worth approximately $404,000. Principal Financial Group Inc. purchased a new stake in Flotek Industries in the third quarter valued at approximately $717,000. Finally, AlphaQuest LLC lifted its stake in Flotek Industries by 5,481.5% in the third quarter. AlphaQuest LLC now owns 12,670 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 12,443 shares during the last quarter. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Stock Performance

Shares of FTK stock opened at $17.37 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $17.29 and a 200-day simple moving average of $15.26. The company has a market cap of $521.99 million, a price-to-earnings ratio of 19.51 and a beta of 1.44. Flotek Industries, Inc. has a 12-month low of $6.05 and a 12-month high of $20.09.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FTK. Zacks Research cut shares of Flotek Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flotek Industries in a research note on Monday, December 29th. Lake Street Capital assumed coverage on Flotek Industries in a report on Thursday, January 29th. They set a “buy” rating and a $25.00 price target on the stock. Wall Street Zen cut Flotek Industries from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Northland Securities reissued an “outperform” rating and issued a $20.00 target price on shares of Flotek Industries in a report on Wednesday, December 31st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Flotek Industries 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.