Dimensional Fund Advisors LP Boosts Stock Holdings in Flotek Industries, Inc. (NYSE:FTK)

Dimensional Fund Advisors LP grew its position in shares of Flotek Industries, Inc. (NYSE:FTK) by 71.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 145,678 shares of the oil and gas company’s stock after purchasing an additional 60,504 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Flotek Industries were worth $1,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTK. Hillsdale Investment Management Inc. bought a new stake in shares of Flotek Industries during the fourth quarter valued at about $4,418,000. Acuitas Investments LLC purchased a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $2,586,000. EAM Investors LLC purchased a new stake in shares of Flotek Industries during the fourth quarter valued at approximately $941,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Flotek Industries during the fourth quarter valued at approximately $826,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Flotek Industries by 306.2% during the fourth quarter. Renaissance Technologies LLC now owns 85,700 shares of the oil and gas company’s stock valued at $817,000 after acquiring an additional 64,600 shares in the last quarter. 10.90% of the stock is owned by hedge funds and other institutional investors.

Flotek Industries Stock Performance

NYSE FTK opened at $15.39 on Friday. Flotek Industries, Inc. has a one year low of $3.39 and a one year high of $15.72. The stock has a 50-day moving average of $8.36 and a 200 day moving average of $8.23. The company has a market capitalization of $459.04 million, a price-to-earnings ratio of 59.19 and a beta of 1.00.

Flotek Industries (NYSE:FTK) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.11. Flotek Industries had a return on equity of 7.76% and a net margin of 4.58%. The business had revenue of $55.36 million for the quarter, compared to analysts’ expectations of $44.50 million. On average, equities analysts predict that Flotek Industries, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other Flotek Industries news, Director Matthew Wilks purchased 103,514 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of $12.24 per share, with a total value of $1,267,011.36. Following the acquisition, the director now owns 144,350 shares in the company, valued at approximately $1,766,844. This trade represents a 253.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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).