Geode Capital Management LLC Grows Position in Flotek Industries, Inc. (NYSE:FTK)

Geode Capital Management LLC lifted its holdings in shares of Flotek Industries, Inc. (NYSE:FTK) by 108.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,483 shares of the oil and gas company’s stock after purchasing an additional 154,497 shares during the quarter. Geode Capital Management LLC owned 1.00% of Flotek Industries worth $1,483,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FTK. Barclays PLC purchased a new position in Flotek Industries in the 3rd quarter worth approximately $66,000. XTX Topco Ltd bought a new stake in shares of Flotek Industries during the 3rd quarter worth $53,000. PDT Partners LLC bought a new position in shares of Flotek Industries during the 3rd quarter valued at about $86,000. Finally, Sanders Morris Harris LLC purchased a new stake in Flotek Industries during the third quarter valued at about $137,000. 10.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm upped their price target 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 Trading Down 2.3 %

NYSE:FTK opened at $8.93 on Thursday. The company has a 50-day moving average price of $8.00 and a 200-day moving average price of $5.80. The stock has a market cap of $266.08 million, a price-to-earnings ratio of 34.35 and a beta of 1.19. Flotek Industries, Inc. has a 12 month low of $2.64 and a 12 month high of $10.35.

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

Flotek Industries 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).