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Flotek Industries’ Stock Price and Strategies after 1Q17

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Flotek Industries’ stock price reaction

Flotek Industries (FTK) released its financial information for 1Q17 on May 3, 2017, after trading hours closed. On that day, Flotek Industries’ stock price rose 0.9% to $12.36 from the previous day’s close.

Halliburton (HAL) released its financial information for 1Q17 on April 24. It saw a 1% fall in its stock price on the day of the earnings release.

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Flotek Industries’ stock price returns compared to the industry

In the past year, Flotek Industries stock generated 30% returns until May 3, 2017. In the past year, Flotek Industries significantly outperformed the VanEck Vectors Oil Services ETF (OIH), which generated -4% returns. The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, produced 3% returns during this period. Flotek Industries also outperformed the SPDR S&P 500 ETF (SPY), which produced 16% returns during the same period. The Dow Jones Industrial Average (DJIA-INDEX) rose 18% in the past year. The energy sector makes up 6.2% of the DJIA-INDEX.

The West Texas Intermediate crude oil price rose ~9% in the past year. To learn more, read Oil Fell despite OPEC and Russia’s Lower Production in April.

Flotek Industries’ strategies

Flotek Industries’ management discussed the company’s opportunities in 2Q17. In the 1Q17 press release, John Chisholm, Flotek Industries’ chairman and CEO, said, “For the second quarter 2017, we are anticipating steady completion activity with opportunities for growth, continued demand in energy chemistry with expanding margins as the result of strategic price increases, and steady growth in our consumer and industrial chemistry technology sectors.”

In the next part, we’ll discuss Wall Street analysts’ targets for Flotek Industries.

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