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In a report released today, Michael Heim from Noble Financial maintained a Buy rating on Flotek (FTK – Research Report), with a price target of $2.50. The company’s shares closed last Monday at $0.56.
According to TipRanks.com, Heim is ranked #1366 out of 7756 analysts.
Currently, the analyst consensus on Flotek is a Moderate Buy with an average price target of $2.50.
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Based on Flotek’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.18 million and net profit of $509K. In comparison, last year the company earned revenue of $12.74 million and had a GAAP net loss of $45.24 million.
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Flotek Industries, Inc. is a technology-driven company. It develops and supplies chemistry and services to the oil and gas industries, and companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The company operates through the following segment: Energy Chemistry Technologies. The Energy Chemistry Technologies segment designs, develops, manufactures, packages, and markets chemistries for use in oil and gas well drilling, cementing, completion, and stimulation activities designed to maximize recovery in both new and mature fields. Its products include Stimulation Chemistry, Cementing Chemistry, Improved Oil Recovery (IOR), Drilling Fluid Additives and Coil Tubing Chemistry. The firm offers services, including Reservoir Characterization, Polymer Conformance and Logistics Management. Flotek Industries was founded on May 17, 1985 and is headquartered in Houston, TX.
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