Raymond James Financial Inc. bought a new stake in Flotek Industries, Inc. (NYSE:FTK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,793 shares of the oil and gas company's stock, valued at approximately $513,000. Raymond James Financial Inc. owned approximately 0.18% of Flotek Industries as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of FTK. Geode Capital Management LLC lifted its stake in 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 valued at $1,483,000 after purchasing an additional 154,497 shares during the last quarter. Acuitas Investments LLC purchased a new stake in Flotek Industries in the fourth quarter valued at approximately $2,586,000. Truist Financial Corp lifted its holdings 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 worth $2,327,000 after acquiring an additional 8,500 shares during the last quarter. Bailard Inc. bought a new stake in Flotek Industries during the fourth quarter worth about $360,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Flotek Industries in the fourth quarter worth approximately $148,000. 10.90% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Singular Research raised shares of Flotek Industries to a "moderate buy" rating in a research note on Monday, March 17th.
View Our Latest Research Report on FTK
Flotek Industries Stock Performance
FTK stock traded down $0.10 during trading on Friday, hitting $6.43. 169,972 shares of the company traded hands, compared to its average volume of 152,318. The company has a 50-day moving average of $8.17 and a 200-day moving average of $7.62. Flotek Industries, Inc. has a 1 year low of $3.13 and a 1 year high of $10.35. The firm has a market capitalization of $191.67 million, a PE ratio of 24.72 and a beta of 0.87.
Flotek Industries (NYSE:FTK - Get Free Report) last released its quarterly earnings data on Monday, March 10th. The oil and gas company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The firm had revenue of $50.76 million during the quarter, compared to analyst estimates of $50.08 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Sell-side analysts expect that Flotek Industries, Inc. will post 0.29 EPS for the current year.
About Flotek Industries
(
Free Report)
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).
Recommended Stories
Before you consider Flotek Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Flotek Industries wasn't on the list.
While Flotek Industries currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
