Wilmington Savings Fund Society FSB Takes $60,000 Position in Flotek Industries, Inc. (NYSE:FTK)

Wilmington Savings Fund Society FSB bought a new position in Flotek Industries, Inc. (NYSE:FTK) during the third quarter, according to its most recent filing with the SEC. The firm bought 12,000 shares of the oil and gas company’s stock, valued at approximately $60,000.

Several other hedge funds have also bought and sold shares of FTK. Geode Capital Management LLC lifted its stake 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 valued at $1,483,000 after buying an additional 154,497 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Flotek Industries in the 3rd quarter worth about $137,000. PDT Partners LLC bought a new position in Flotek Industries in the 3rd quarter valued at about $86,000. Barclays PLC acquired a new position in Flotek Industries during the 3rd quarter valued at about $66,000. Finally, XTX Topco Ltd bought a new stake in Flotek Industries during the 3rd quarter worth approximately $53,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lifted their target price on Flotek Industries from $6.50 to $8.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Flotek Industries Stock Performance

Flotek Industries stock opened at $7.32 on Friday. The stock has a market cap of $218.11 million, a PE ratio of 28.15 and a beta of 1.24. Flotek Industries, Inc. has a fifty-two week low of $2.64 and a fifty-two week high of $9.14. The firm’s 50-day simple moving average is $6.91 and its 200 day simple moving average is $5.40.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings results on Monday, November 4th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The business had revenue of $49.74 million for the quarter, compared to analyst estimates of $50.40 million. During the same period last year, the company posted $0.04 earnings per share. As a group, analysts predict that Flotek Industries, Inc. will post 0.29 EPS for the current fiscal year.

Flotek Industries Company 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).