Insider Buying: Flotek Industries, Inc. (FTK) Chairman Acquires 33,600 Shares of Stock

Flotek Industries, Inc. (NYSE:FTK) Chairman John Chisholm bought 33,600 shares of the firm’s stock in a transaction on Tuesday, May 15th. The shares were bought at an average cost of $3.41 per share, with a total value of $114,576.00. Following the purchase, the chairman now directly owns 1,158,226 shares in the company, valued at $3,949,550.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of NYSE:FTK traded down $0.09 during trading on Friday, reaching $3.50. 1,212,093 shares of the company traded hands, compared to its average volume of 2,114,732. The firm has a market capitalization of $204.14 million, a P/E ratio of -50.00 and a beta of 1.52. Flotek Industries, Inc. has a 1-year low of $3.15 and a 1-year high of $10.70.

Flotek Industries (NYSE:FTK) last issued its earnings results on Wednesday, May 9th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The company had revenue of $60.52 million during the quarter, compared to analyst estimates of $60.50 million. Flotek Industries had a negative net margin of 5.16% and a positive return on equity of 0.37%. The company’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. sell-side analysts expect that Flotek Industries, Inc. will post -0.1 earnings per share for the current year.

Large investors have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $133,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $225,000. Virtu Financial LLC acquired a new stake in shares of Flotek Industries during the 4th quarter valued at $323,000. Trexquant Investment LP boosted its stake in shares of Flotek Industries by 261.4% during the 1st quarter. Trexquant Investment LP now owns 61,177 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 44,247 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Flotek Industries by 220.8% during the 4th quarter. Arizona State Retirement System now owns 95,507 shares of the oil and gas company’s stock valued at $445,000 after buying an additional 65,740 shares during the period. 78.27% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on FTK shares. Zacks Investment Research raised shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Wednesday, February 21st. ValuEngine raised shares of Flotek Industries from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 9th.

About Flotek Industries

Flotek Industries, Inc develops and supplies chemistry and services to the oil and gas industries in the United States and internationally. It operates through two segments, Energy Chemistry Technologies; and Consumer and Industrial Chemistry Technologies. The Energy Chemistry Technologies segment is involved in the design, development, manufacture, packaging, and marketing of chemistries under the Complex nano-Fluid brand name for use in oil and gas well drilling, cementing, completion, stimulation, and production activities, as well as for use in enhanced and improved oil recovery markets.

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