Flotek Industries' (NYSE:FTK) "Buy" Rating Reaffirmed at Seaport Global Securities

Marco Green
August 3, 2017

The Firm operates through four divisions: Community Banking, Wealth Management, Insurance and Consumer Finance. It has a 246.19 P/E ratio. It was reported on Aug, 2 by Barchart.com. (NYSE:FTK). At the time of writing, the First Call consensus price target for the company is $10.00.

The stock increased 0.24% or $0.02 during the last trading session, hitting $13.40. It has underperformed by 23.03% the S&P500.

Since February 22, 2017, it had 0 insider buys, and 2 sales for $364,890 activity. Saksena Asheesh had sold 22,255 shares worth $1.24M.

Investors sentiment decreased to 1.2 in 2016 Q4. Its up 0.30, from 1.19 in 2016Q3.

Total shares held by institutions as of the most recent company filings are 52,015,392 with a reported 2,699,041 bought and 9,095,117 sold. Stephens Inc. AR increased its stake in shares of Flotek Industries by 2.4% in the first quarter. Nationwide Fund Advsr invested in 0% or 17,549 shares. 14,464 are owned by Profund Advsrs Limited Liability. On average, equities analysts anticipate that Flotek Industries will post $0.27 EPS for the current year. Ameriprise Fincl reported 0% of its portfolio in Flotek Industries Inc (NYSE:FTK). More interesting news about Flotek Industries Inc (NYSE:FTK) were released by: Seekingalpha.com and their article: "FourWorld Capital Urges Investors In Flotek Industries To Raise Key Questions ..." published on February 08, 2017 as well as Prnewswire.com's news article titled: "Flotek Industries, Inc". Flotek Industries, Inc. has a 12 month low of $4.91 and a 12 month high of $16.93. If we strip out losses for its discontinued operations, then Flotek's loss would have been $0.02 per share. Johnson Financial Gp reported 0% stake. Share performance for the month is now at -7.49%. Municipal Employees Retirement System of MI increased its position in shares of Flotek Industries by 5.8% in the second quarter. KLR Group initiated the stock with "Buy" rating in Monday, December 14 report. Teton Advsr holds 25,300 shares or 0.02% of its portfolio.

Flotek Industries, Inc is a technology-driven company. The stock's market capitalization is $474.06 million. 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. Also, considering the increased oil and gas drilling activity going on in the USA right now, it's probably likely that Wall Street was expecting greater revenue gains for its energy chemistry technologies segment. Zacks Investment Research cut shares of Flotek Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, April 18th. Therefore 80% are positive. Oppenheimer maintained it with "Perform" rating and $18 target in Wednesday, October 7 report. Oppenheimer upgraded the shares of FTK in report on Monday, July 27 to "Perform" rating. Finally, BidaskClub cut shares of Flotek Industries from a "sell" rating to a "strong sell" rating in a research note on Tuesday, July 25th. Vetr downgraded it to "Buy" rating and $17.89 target in Thursday, August 6 report.

About 57,507 shares traded. F.N.B. Texas Pacific Land Trust (NYSE:TPL) has risen 81.36% since August 2, 2016 and is uptrending. Corp for 444,357 shares. 20,700 shares valued at $1.44 million were sold by ECKSTEIN BERNSTEIN H CAROL on Wednesday, March 8. Accern also gave media coverage about the oil and gas company an impact score of 46.1762419821208 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company's share price in the immediate future. The Minnesota-based Thrivent For Lutherans has invested 0% in Best Buy Co Inc (NYSE:BBY). Great West Life Assurance Can, Manitoba - Canada-based fund reported 71,024 shares.

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