Masters Capital Management LLC Sells 25,000 Shares of Flotek Industries, Inc. (NYSE:FTK)

Masters Capital Management LLC reduced its position in shares of Flotek Industries, Inc. (NYSE:FTK) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 475,000 shares of the oil and gas company’s stock after selling 25,000 shares during the period. Masters Capital Management LLC owned about 1.60% of Flotek Industries worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FTK. Vanguard Group Inc. grew its stake in shares of Flotek Industries by 7.9% in the first quarter. Vanguard Group Inc. now owns 545,246 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 39,695 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Flotek Industries in the 1st quarter valued at about $223,000. Finally, Pingora Partners LLC bought a new stake in shares of Flotek Industries in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 10.90% of the company’s stock.

Flotek Industries Trading Down 0.6 %

Shares of Flotek Industries stock opened at $5.28 on Tuesday. The business has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $4.12. Flotek Industries, Inc. has a 1-year low of $2.64 and a 1-year high of $5.61. The company has a market cap of $156.59 million, a P/E ratio of 132.00 and a beta of 1.03.

Flotek Industries (NYSE:FTK) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Flotek Industries had a return on equity of 6.73% and a net margin of 3.94%. The business had revenue of $46.15 million during the quarter, compared to analysts’ expectations of $46.60 million. During the same quarter last year, the firm posted ($0.24) earnings per share. Equities research analysts forecast that Flotek Industries, Inc. will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Roth Capital upgraded Flotek Industries to a “strong-buy” rating in a research report on Thursday, July 25th. Roth Mkm began coverage on shares of Flotek Industries in a report on Thursday, July 25th. They set a “buy” rating and a $6.50 price target for the company. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $6.75.

About Flotek Industries

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).