Charles Schwab Investment Management Inc. Invests $148,000 in Flotek Industries, Inc. (NYSE:FTK)

Charles Schwab Investment Management Inc. purchased a new stake in Flotek Industries, Inc. (NYSE:FTK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,581 shares of the oil and gas company’s stock, valued at approximately $148,000.

Several other institutional investors have also made changes to their positions in FTK. XTX Topco Ltd bought a new position in Flotek Industries during the 3rd quarter worth $53,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flotek Industries during the 3rd quarter valued at $60,000. Barclays PLC acquired a new stake in shares of Flotek Industries during the 3rd quarter worth $66,000. PDT Partners LLC bought a new position in shares of Flotek Industries in the third quarter worth $86,000. Finally, Bailard Inc. acquired a new position in Flotek Industries in the fourth quarter valued at about $360,000. 10.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Singular Research upgraded shares of Flotek Industries to a “moderate buy” rating in a research note on Monday, March 17th.

Flotek Industries Price Performance

Shares of FTK opened at $8.26 on Wednesday. The firm has a 50 day simple moving average of $8.56 and a two-hundred day simple moving average of $7.54. Flotek Industries, Inc. has a one year low of $3.13 and a one year high of $10.35. The company has a market cap of $246.35 million, a P/E ratio of 31.77 and a beta of 1.21.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Monday, March 10th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $50.76 million during the quarter, compared to analysts’ expectations of $50.08 million. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. During the same quarter in the previous year, the firm earned $0.07 EPS. On average, analysts expect that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Flotek Industries Company 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).