Vanguard Group Inc. Boosts Stake in Flotek Industries, Inc. (FTK)

Vanguard Group Inc. lifted its position in Flotek Industries, Inc. (NYSE:FTK) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,020,985 shares of the oil and gas company’s stock after buying an additional 135,026 shares during the quarter. Vanguard Group Inc. owned about 8.76% of Flotek Industries worth $44,888,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FTK. Karp Capital Management Corp bought a new stake in shares of Flotek Industries in the 1st quarter valued at approximately $217,000. Parametric Portfolio Associates LLC grew its stake in shares of Flotek Industries by 24.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 142,956 shares of the oil and gas company’s stock valued at $1,828,000 after buying an additional 28,535 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Flotek Industries by 0.6% in the 1st quarter. Prudential Financial Inc. now owns 92,399 shares of the oil and gas company’s stock valued at $1,182,000 after buying an additional 550 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Flotek Industries by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 421,784 shares of the oil and gas company’s stock valued at $5,395,000 after buying an additional 16,676 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Flotek Industries by 2.2% in the 1st quarter. Teachers Advisors LLC now owns 110,899 shares of the oil and gas company’s stock valued at $1,418,000 after buying an additional 2,388 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently commented on FTK. raised Flotek Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. cut Flotek Industries from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 20th. Finally, reaffirmed a “buy” rating on shares of Flotek Industries in a research report on Thursday, July 20th.

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Shares of Flotek Industries, Inc. (NYSE:FTK) opened at $4.61 on Wednesday. Flotek Industries, Inc. has a 12-month low of $4.14 and a 12-month high of $14.51.

Flotek Industries (NYSE:FTK) last announced its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The company had revenue of $79.46 million for the quarter, compared to the consensus estimate of $85.10 million. Flotek Industries had a negative return on equity of 1.64% and a negative net margin of 10.41%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. equities research analysts predict that Flotek Industries, Inc. will post -0.12 EPS for the current year.

Flotek Industries Company Profile

Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).

Institutional Ownership by Quarter for Flotek Industries (NYSE:FTK)

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