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

Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 135,026 shares during the quarter. Vanguard Group Inc. owned approximately 8.76% of Flotek Industries worth $44,888,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of FTK. Karp Capital Management Corp acquired a new stake in Flotek Industries in the first quarter worth $217,000. Parametric Portfolio Associates LLC increased its holdings in 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 during the period. Prudential Financial Inc. increased its holdings in 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 during the period. Principal Financial Group Inc. increased its holdings in 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 during the period. Finally, Teachers Advisors LLC increased its holdings in 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 during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Flotek Industries, Inc. (NYSE FTK) traded down $0.11 during trading on Tuesday, hitting $4.54. The company’s stock had a trading volume of 851,003 shares, compared to its average volume of 1,000,430. Flotek Industries, Inc. has a 1-year low of $4.14 and a 1-year high of $14.51.

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

A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Flotek Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Flotek Industries from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 20th.

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About Flotek Industries

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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