Key Points
- Flotek Industries CFO James Bond Clement sold 12,554 shares on May 18 at an average price of $20.08, totaling about $252,084. After the transaction, he still held 115,324 shares.
- The sale came after a prior insider sale in February, when Clement sold 6,299 shares at an average price of $16.02.
- Flotek recently reported quarterly earnings of $0.12 per share, slightly below estimates, while revenue of $70.05 million beat forecasts. Analysts currently rate the stock a Moderate Buy with a consensus price target of $21.33.
Flotek Industries, Inc. (NYSE:FTK - Get Free Report) CFO James Bond Clement sold 12,554 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $20.08, for a total value of $252,084.32. Following the sale, the chief financial officer directly owned 115,324 shares in the company, valued at $2,315,705.92. The trade was a 9.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
James Bond Clement also recently made the following trade(s):
- On Tuesday, February 24th, James Bond Clement sold 6,299 shares of Flotek Industries stock. The stock was sold at an average price of $16.02, for a total value of $100,909.98.
Flotek Industries Stock Performance
Shares of Flotek Industries stock opened at $19.91 on Tuesday. The company has a market capitalization of $720.38 million, a PE ratio of 25.53 and a beta of 1.39. Flotek Industries, Inc. has a 12 month low of $10.95 and a 12 month high of $20.63. The company has a current ratio of 1.83, a quick ratio of 1.62 and a debt-to-equity ratio of 0.34. The stock's fifty day simple moving average is $16.84 and its 200 day simple moving average is $16.64.
Flotek Industries (NYSE:FTK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $70.05 million for the quarter, compared to analyst estimates of $63.08 million. Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%. On average, research analysts predict that Flotek Industries, Inc. will post 0.6 EPS for the current year.
Analysts Set New Price Targets
Several research firms have issued reports on FTK. Weiss Ratings raised Flotek Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 13th. Zacks Research downgraded Flotek Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Finally, Lake Street Capital began coverage on Flotek Industries in a research note on Thursday, January 29th. They issued a "buy" rating and a $25.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.33.
Read Our Latest Research Report on FTK
Hedge Funds Weigh In On Flotek Industries
Several hedge funds have recently modified their holdings of the stock. Masters Capital Management LLC grew its holdings in shares of Flotek Industries by 8.9% in the 1st quarter. Masters Capital Management LLC now owns 1,089,438 shares of the oil and gas company's stock valued at $18,488,000 after acquiring an additional 89,438 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Flotek Industries by 304.4% in the 3rd quarter. Millennium Management LLC now owns 809,398 shares of the oil and gas company's stock valued at $11,817,000 after acquiring an additional 609,268 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Flotek Industries by 71.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 691,593 shares of the oil and gas company's stock valued at $11,736,000 after acquiring an additional 288,064 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Flotek Industries by 41.6% in the 4th quarter. Royce & Associates LP now owns 507,125 shares of the oil and gas company's stock valued at $8,738,000 after acquiring an additional 148,876 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of Flotek Industries in the 2nd quarter valued at about $4,436,000. Institutional investors own 10.90% of the company's stock.
About Flotek Industries
(
Get Free Report)
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.
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