The Teachers Advisors LLC Increases Stake in Flotek Industries Inc (FTK)

The Teachers Advisors LLC Increases Stake in Flotek Industries Inc (FTK)

Several other large investors have also recently made changes to their positions in the company. Tudor Investment Corp Et Al increased its stake in shares of Flotek Industries by 31.9% in the fourth quarter. Tudor Investment Corp Et Al now owns 24,800 shares of the oil and gas company’s stock worth $233,000 after buying an additional 6,000 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Flotek Industries by 13.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 29,560 shares of the oil and gas company’s stock worth $278,000 after buying an additional 3,520 shares in the last quarter. Denver Investment Advisors LLC bought a new stake in shares of Flotek Industries during the fourth quarter worth $392,000. Pacad Investment Ltd. increased its stake in shares of Flotek Industries by 293.3% in the fourth quarter. Pacad Investment Ltd. now owns 42,874 shares of the oil and gas company’s stock worth $403,000 after buying an additional 31,974 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Flotek Industries by 286.5% in the fourth quarter. Trexquant Investment LP now owns 56,433 shares of the oil and gas company’s stock worth $530,000 after buying an additional 41,833 shares in the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Teachers Advisors LLC boosted its position in Flotek Industries Inc (NYSE:FTK) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,511 shares of the oil and gas company’s stock after buying an additional 12,050 shares during the period. Teachers Advisors LLC’s holdings in Flotek Industries were worth $1,019,000 at the end of the most recent reporting period.

Flotek Industries Inc (NYSE:FTK) opened at 9.53 on Monday. Flotek Industries Inc has a one year low of $8.87 and a one year high of $16.93. The stock has a 50 day moving average of $10.89 and a 200 day moving average of $11.35. The company’s market cap is $545.63 million.

Flotek Industries (NYSE:FTK) last released its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Flotek Industries had a negative return on equity of 4.80% and a negative net margin of 17.01%. The company had revenue of $80 million for the quarter, compared to analyst estimates of $78.85 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. Flotek Industries’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, analysts anticipate that Flotek Industries Inc will post $0.30 earnings per share for the current fiscal year.

FTK has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, May 8th. ValuEngine cut shares of Flotek Industries from a “hold” rating to a “sell” rating in a research report on Friday.

In related news, Director Kenneth Hern sold 15,000 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $11.60, for a total transaction of $174,000.00. Following the sale, the director now owns 76,487 shares in the company, valued at approximately $887,249.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.64% of the company’s stock. 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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FTK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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