BNP Paribas Arbitrage SA Boosts Stake in Flotek Industries, Inc. (FTK)

BNP Paribas Arbitrage SA lifted its holdings in Flotek Industries, Inc. (NYSE:FTK) by 67.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,451 shares of the oil and gas company’s stock after buying an additional 11,889 shares during the period. BNP Paribas Arbitrage SA owned about 0.05% of Flotek Industries worth $137,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Arizona State Retirement System boosted its position in Flotek Industries by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,367 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Flotek Industries by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund lifted its position in shares of Flotek Industries by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 39,712 shares of the oil and gas company’s stock worth $355,000 after purchasing an additional 500 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in shares of Flotek Industries by 5.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,790 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 700 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Flotek Industries by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,450 shares of the oil and gas company’s stock worth $388,000 after purchasing an additional 744 shares during the period. Institutional investors own 84.91% of the company’s stock.

Flotek Industries, Inc. (FTK) opened at $4.45 on Friday. Flotek Industries, Inc. has a 52 week low of $4.14 and a 52 week high of $14.51.

Flotek Industries (NYSE:FTK) last posted its quarterly earnings data on Wednesday, November 8th. The oil and gas company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). Flotek Industries had a negative return on equity of 1.64% and a negative net margin of 10.41%. The firm had revenue of $79.46 million for the quarter, compared to the consensus estimate of $85.10 million. During the same quarter last year, the firm earned ($0.06) EPS. The company’s revenue was up 23.5% compared to the same quarter last year. research analysts predict that Flotek Industries, Inc. will post -0.12 earnings per share for the current year.

Several equities research analysts have recently weighed in on FTK shares. Zacks Investment Research raised shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, September 4th. BidaskClub cut shares of Flotek Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th.

ILLEGAL ACTIVITY WARNING: “BNP Paribas Arbitrage SA Boosts Stake in Flotek Industries, Inc. (FTK)” was published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/12/17/bnp-paribas-arbitrage-sa-boosts-stake-in-flotek-industries-inc-ftk.html.

Flotek Industries Profile

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).

Want to see what other hedge funds are holding FTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flotek Industries, Inc. (NYSE:FTK).

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

What are top analysts saying about Flotek Industries? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Flotek Industries and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit