Flotek Industries, Inc. (NYSE:FTK) – Analysts at Seaport Global Securities lowered their FY2017 EPS estimates for shares of Flotek Industries in a research note issued on Monday. Seaport Global Securities analyst S. Randhawa now expects that the oil and gas company will post earnings per share of $0.14 for the year, down from their previous estimate of $0.31. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Flotek Industries’ FY2018 earnings at $0.65 EPS.
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A number of other research analysts have also issued reports on the stock. BidaskClub upgraded shares of Flotek Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered shares of Flotek Industries from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, ValuEngine lowered shares of Flotek Industries from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.
Shares of Flotek Industries (NYSE:FTK) opened at 6.37 on Wednesday. Flotek Industries has a 1-year low of $4.91 and a 1-year high of $16.93. The company’s market capitalization is $365.20 million. The company’s 50 day moving average is $8.47 and its 200-day moving average is $10.60.
A number of hedge funds and other institutional investors have recently modified their holdings of FTK. Deprince Race & Zollo Inc. raised its position in shares of Flotek Industries by 22.0% in the second quarter. Deprince Race & Zollo Inc. now owns 61,000 shares of the oil and gas company’s stock worth $545,000 after buying an additional 11,000 shares during the period. BNP Paribas Arbitrage SA raised its position in Flotek Industries by 59.0% in the second quarter. BNP Paribas Arbitrage SA now owns 17,562 shares of the oil and gas company’s stock valued at $157,000 after buying an additional 6,518 shares during the last quarter. Legal & General Group Plc raised its position in Flotek Industries by 9.1% in the second quarter. Legal & General Group Plc now owns 101,869 shares of the oil and gas company’s stock valued at $911,000 after buying an additional 8,485 shares during the last quarter. Northpointe Capital LLC raised its position in Flotek Industries by 15.7% in the second quarter. Northpointe Capital LLC now owns 1,757,075 shares of the oil and gas company’s stock valued at $15,708,000 after buying an additional 239,065 shares during the last quarter. Finally, Denver Investment Advisors LLC raised its position in Flotek Industries by 7.3% in the second quarter. Denver Investment Advisors LLC now owns 43,070 shares of the oil and gas company’s stock valued at $385,000 after buying an additional 2,945 shares during the last quarter.
About Flotek Industries
Flotek Industries, Inc is a technology-driven company. 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. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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