James Bond Clement Sells 12,554 Shares of Flotek Industries (NYSE:FTK) Stock

Flotek Industries, Inc. (NYSE:FTK) CFO James Bond Clement sold 12,554 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $20.08, for a total value of $252,084.32. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $16.02, for a total value of $100,909.98.

Flotek Industries Trading Up 0.3%

NYSE:FTK opened at $19.94 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.62. The firm has a market capitalization of $721.28 million, a price-to-earnings ratio of 25.56 and a beta of 1.39. Flotek Industries, Inc. has a one year low of $10.95 and a one year high of $20.63. The business has a fifty day moving average price of $16.90 and a 200-day moving average price of $16.66.

Flotek Industries (NYSE:FTK) last posted 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 company had revenue of $70.05 million during the quarter, compared to analysts’ expectations of $63.08 million. Flotek Industries had a return on equity of 20.70% and a net margin of 11.83%. Sell-side analysts forecast that Flotek Industries, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FTK shares. Zacks Research lowered Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Lake Street Capital started coverage on Flotek Industries in a research note on Thursday, January 29th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Weiss Ratings upgraded Flotek Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Flotek Industries presently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FTK. Quarry LP grew its position in shares of Flotek Industries by 97.2% during the third quarter. Quarry LP now owns 3,855 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 1,900 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of Flotek Industries during the second quarter valued at about $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flotek Industries during the second quarter valued at about $115,000. Deutsche Bank AG purchased a new position in shares of Flotek Industries during the fourth quarter valued at about $150,000. Finally, Mangrove Partners IM LLC purchased a new position in shares of Flotek Industries during the fourth quarter valued at about $177,000. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Flotek Industries Company 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.