Flotek Industries, Inc. (FTK) Position Reduced by Denver Investment Advisors LLC

Denver Investment Advisors LLC reduced its position in shares of Flotek Industries, Inc. (NYSE:FTK) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,125 shares of the oil and gas company’s stock after selling 1,655 shares during the period. Denver Investment Advisors LLC owned 0.07% of Flotek Industries worth $513,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FTK. First Mercantile Trust Co. acquired a new position in shares of Flotek Industries during the first quarter worth approximately $112,000. BNP Paribas Arbitrage SA increased its stake in shares of Flotek Industries by 12.3% in the first quarter. BNP Paribas Arbitrage SA now owns 11,044 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 1,209 shares during the last quarter. RNC Capital Management LLC increased its stake in Flotek Industries by 10.0% in the first quarter. RNC Capital Management LLC now owns 11,035 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 1,000 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Flotek Industries by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the oil and gas company’s stock valued at $174,000 after buying an additional 190 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in Flotek Industries during the first quarter valued at $217,000.

Institutional Ownership by Quarter for Flotek Industries (NYSE:FTK)

Flotek Industries, Inc. (NYSE FTK) traded up 1.70% during trading on Friday, reaching $8.97. 653,134 shares of the company’s stock traded hands. The company’s market cap is $513.57 million. Flotek Industries, Inc. has a 12-month low of $8.54 and a 12-month high of $16.93. The company has a 50 day moving average price of $10.18 and a 200-day moving average price of $11.12.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $80 million for the quarter, compared to analysts’ expectations of $78.85 million. Flotek Industries had a negative net margin of 10.43% and a negative return on equity of 3.38%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, equities research analysts forecast that Flotek Industries, Inc. will post $0.30 EPS for the current fiscal year.

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Several equities analysts recently issued reports on FTK shares. Zacks Investment Research raised shares of Flotek Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, May 8th. ValuEngine lowered shares of Flotek Industries from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.

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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