Barclays PLC Purchases New Stake in Flotek Industries, Inc. (NYSE:FTK)

Barclays PLC purchased a new position in Flotek Industries, Inc. (NYSE:FTK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,244 shares of the oil and gas company’s stock, valued at approximately $66,000.

Other hedge funds have also recently modified their holdings of the company. XTX Topco Ltd bought a new stake in Flotek Industries in the third quarter valued at $53,000. PDT Partners LLC bought a new stake in shares of Flotek Industries during the 3rd quarter valued at about $86,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Flotek Industries during the third quarter valued at about $137,000. Hedge funds and other institutional investors own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm raised their price objective on shares of Flotek Industries from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Flotek Industries Stock Performance

Shares of NYSE FTK opened at $8.93 on Friday. Flotek Industries, Inc. has a fifty-two week low of $2.64 and a fifty-two week high of $10.35. The company has a market capitalization of $266.08 million, a price-to-earnings ratio of 34.35 and a beta of 1.19. The company has a 50 day simple moving average of $8.00 and a two-hundred day simple moving average of $5.80.

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

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).