Arrowstreet Capital Limited Partnership Makes New Investment in Flotek Industries, Inc. (NYSE:FTK)

Arrowstreet Capital Limited Partnership bought a new position in shares of Flotek Industries, Inc. (NYSE:FTK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 86,630 shares of the oil and gas company's stock, valued at approximately $826,000. Arrowstreet Capital Limited Partnership owned 0.29% of Flotek Industries as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FTK. XTX Topco Ltd purchased a new stake in shares of Flotek Industries during the 3rd quarter valued at approximately $53,000. Barclays PLC purchased a new stake in shares of Flotek Industries during the third quarter worth $66,000. Geode Capital Management LLC boosted its holdings in shares of Flotek Industries by 108.1% in the third quarter. Geode Capital Management LLC now owns 297,483 shares of the oil and gas company's stock worth $1,483,000 after acquiring an additional 154,497 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Flotek Industries in the third quarter valued at $60,000. Finally, Truist Financial Corp raised its stake in shares of Flotek Industries by 3.6% during the 4th quarter. Truist Financial Corp now owns 244,209 shares of the oil and gas company's stock valued at $2,327,000 after purchasing an additional 8,500 shares during the period. Hedge funds and other institutional investors own 10.90% of the company's stock.

Analysts Set New Price Targets

Separately, Singular Research upgraded Flotek Industries to a "moderate buy" rating in a research note on Monday, March 17th.

Remove Ads

Flotek Industries Trading Up 1.0 %

Shares of FTK traded up $0.07 during mid-day trading on Tuesday, reaching $6.67. 111,528 shares of the stock traded hands, compared to its average volume of 152,754. The company has a market cap of $198.92 million, a price-to-earnings ratio of 25.65 and a beta of 0.87. Flotek Industries, Inc. has a 1 year low of $3.13 and a 1 year high of $10.35. The firm has a fifty day moving average price of $8.13 and a 200 day moving average price of $7.66.

Flotek Industries (NYSE:FTK - Get Free Report) last posted its earnings results on Monday, March 10th. The oil and gas company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The business had revenue of $50.76 million during the quarter, compared to analysts' expectations of $50.08 million. During the same period in the previous year, the business earned $0.07 earnings per share. On average, sell-side analysts anticipate that Flotek Industries, Inc. will post 0.29 EPS for the current year.

Flotek Industries 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).