Flotek Industries, Inc. (FTK) Insider Purchases $67,600.00 in Stock

Flotek Industries, Inc. (NYSE:FTK) insider H. Richard Walton purchased 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was purchased at an average price of $3.38 per share, with a total value of $67,600.00. Following the completion of the purchase, the insider now directly owns 276,547 shares of the company’s stock, valued at approximately $934,728.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Flotek Industries traded down $0.09, reaching $3.50, during midday trading on Friday, Marketbeat reports. The company had a trading volume of 1,212,093 shares, compared to its average volume of 2,114,732. Flotek Industries, Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $10.70. The company has a market cap of $204.14 million, a P/E ratio of -50.00 and a beta of 1.52.

Flotek Industries (NYSE:FTK) last issued its earnings results on Wednesday, May 9th. The oil and gas company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.11. Flotek Industries had a positive return on equity of 0.37% and a negative net margin of 5.16%. The company had revenue of $60.52 million during the quarter, compared to the consensus estimate of $60.50 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. Flotek Industries’s quarterly revenue was down 24.3% compared to the same quarter last year. analysts anticipate that Flotek Industries, Inc. will post -0.1 earnings per share for the current fiscal year.

FTK has been the subject of a number of research reports. Zacks Investment Research upgraded Flotek Industries from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Wednesday, February 21st. ValuEngine downgraded Flotek Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st.

A number of hedge funds have recently modified their holdings of FTK. Wells Fargo & Company MN boosted its stake in Flotek Industries by 24.2% in the third quarter. Wells Fargo & Company MN now owns 114,691 shares of the oil and gas company’s stock valued at $533,000 after acquiring an additional 22,327 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Flotek Industries by 5.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 249,573 shares of the oil and gas company’s stock valued at $1,161,000 after buying an additional 13,773 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Flotek Industries by 21.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,358,417 shares of the oil and gas company’s stock valued at $6,317,000 after buying an additional 243,001 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $225,000. Finally, Arizona State Retirement System raised its holdings in shares of Flotek Industries by 220.8% during the fourth quarter. Arizona State Retirement System now owns 95,507 shares of the oil and gas company’s stock valued at $445,000 after buying an additional 65,740 shares during the last quarter. Institutional investors own 78.27% of the company’s stock.

Flotek Industries Company Profile

Flotek Industries, Inc develops and supplies chemistry and services to the oil and gas industries in the United States and internationally. It operates through two segments, Energy Chemistry Technologies; and Consumer and Industrial Chemistry Technologies. The Energy Chemistry Technologies segment is involved in the design, development, manufacture, packaging, and marketing of chemistries under the Complex nano-Fluid brand name for use in oil and gas well drilling, cementing, completion, stimulation, and production activities, as well as for use in enhanced and improved oil recovery markets.

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