Flotek Industries (FTK) Earning Somewhat Critical Press Coverage, Accern Reports

News headlines about Flotek Industries (NYSE:FTK) have been trending somewhat negative this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Flotek Industries earned a media sentiment score of -0.03 on Accern’s scale. Accern also gave headlines about the oil and gas company an impact score of 46.4252229329123 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

These are some of the media headlines that may have effected Accern Sentiment’s scoring:

FTK traded up $0.03 during trading on Friday, reaching $2.26. 1,121,991 shares of the company’s stock were exchanged, compared to its average volume of 595,077. Flotek Industries has a fifty-two week low of $2.08 and a fifty-two week high of $6.77. The firm has a market capitalization of $127.02 million, a PE ratio of -32.29 and a beta of 1.42.

Flotek Industries (NYSE:FTK) last issued its quarterly earnings data on Tuesday, August 7th. The oil and gas company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.27). Flotek Industries had a negative net margin of 31.87% and a negative return on equity of 7.96%. The company had revenue of $59.09 million during the quarter, compared to the consensus estimate of $63.50 million.

A number of equities research analysts have issued reports on FTK shares. ValuEngine raised Flotek Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research cut Flotek Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, Seaport Global Securities cut Flotek Industries from a “buy” rating to a “neutral” rating in a research note on Wednesday.

In other Flotek Industries news, Chairman John Chisholm acquired 33,600 shares of the stock in a transaction dated Tuesday, May 15th. The shares were purchased at an average price of $3.41 per share, for a total transaction of $114,576.00. Following the purchase, the chairman now directly owns 1,158,226 shares of the company’s stock, valued at $3,949,550.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joshua A. Snively acquired 10,216 shares of the stock in a transaction dated Wednesday, May 16th. The stock was acquired at an average price of $3.41 per share, for a total transaction of $34,836.56. Following the purchase, the executive vice president now directly owns 94,975 shares in the company, valued at $323,864.75. The disclosure for this purchase can be found here. Insiders bought a total of 63,816 shares of company stock worth $217,013 in the last quarter. Company insiders own 4.86% of the company’s stock.

About Flotek Industries

Flotek Industries, Inc develops and supplies chemistry and services to the oil and gas industries in the United States and internationally. It operates through two segments, Energy Chemistry Technologies; and Consumer and Industrial Chemistry Technologies. The Energy Chemistry Technologies segment is involved in the design, development, manufacture, packaging, and marketing of chemistries under the Complex nano-Fluid brand name for use in oil and gas well drilling, cementing, completion, stimulation, and production activities, as well as for use in enhanced and improved oil recovery markets.

Read More: What kind of dividend yield to CEF’s pay?

Insider Buying and Selling by Quarter for Flotek Industries (NYSE:FTK)

Receive News & Ratings for Flotek Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flotek Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply

Leave a Reply