Intrinsic value of Flotek Industries - FTK

Previous Close

$3.01

  Intrinsic Value

$0.69

stock screener

  Rating & Target

str. sell

-77%

Previous close

$3.01

 
Intrinsic value

$0.69

 
Up/down potential

-77%

 
Rating

str. sell

We calculate the intrinsic value of FTK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.70
  19.13
  17.72
  16.45
  15.30
  14.27
  13.34
  12.51
  11.76
  11.08
  10.47
  9.93
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.36
  7.12
  6.91
  6.72
  6.55
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
Revenue, $m
  383
  456
  537
  625
  720
  823
  933
  1,050
  1,173
  1,303
  1,440
  1,583
  1,732
  1,888
  2,050
  2,219
  2,394
  2,577
  2,766
  2,963
  3,168
  3,381
  3,602
  3,832
  4,072
  4,321
  4,581
  4,852
  5,134
  5,429
Variable operating expenses, $m
  342
  405
  475
  552
  634
  723
  818
  919
  1,026
  1,139
  1,247
  1,370
  1,500
  1,635
  1,775
  1,921
  2,073
  2,231
  2,395
  2,566
  2,743
  2,927
  3,119
  3,318
  3,526
  3,742
  3,967
  4,201
  4,446
  4,701
Fixed operating expenses, $m
  36
  37
  37
  38
  39
  40
  41
  42
  43
  44
  44
  45
  46
  47
  49
  50
  51
  52
  53
  54
  55
  56
  58
  59
  60
  62
  63
  64
  66
  67
Total operating expenses, $m
  378
  442
  512
  590
  673
  763
  859
  961
  1,069
  1,183
  1,291
  1,415
  1,546
  1,682
  1,824
  1,971
  2,124
  2,283
  2,448
  2,620
  2,798
  2,983
  3,177
  3,377
  3,586
  3,804
  4,030
  4,265
  4,512
  4,768
Operating income, $m
  5
  14
  24
  35
  47
  60
  74
  89
  104
  121
  149
  167
  186
  206
  226
  248
  270
  294
  318
  343
  370
  397
  425
  455
  486
  518
  551
  586
  623
  661
EBITDA, $m
  37
  50
  65
  81
  99
  117
  137
  159
  181
  205
  230
  257
  284
  313
  343
  374
  406
  440
  475
  512
  550
  589
  630
  673
  717
  763
  812
  862
  914
  969
Interest expense (income), $m
  2
  2
  2
  3
  4
  5
  6
  8
  9
  10
  12
  13
  15
  16
  18
  20
  22
  24
  26
  28
  30
  33
  35
  37
  40
  43
  45
  48
  51
  55
  58
Earnings before tax, $m
  3
  12
  21
  31
  42
  54
  66
  80
  94
  109
  136
  152
  169
  188
  206
  226
  247
  268
  290
  313
  337
  362
  388
  415
  443
  472
  503
  535
  568
  603
Tax expense, $m
  1
  3
  6
  8
  11
  15
  18
  22
  25
  29
  37
  41
  46
  51
  56
  61
  67
  72
  78
  85
  91
  98
  105
  112
  120
  128
  136
  144
  153
  163
Net income, $m
  3
  9
  15
  23
  31
  39
  48
  58
  69
  80
  99
  111
  124
  137
  151
  165
  180
  196
  212
  229
  246
  264
  283
  303
  323
  345
  367
  391
  415
  440

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  398
  474
  558
  650
  750
  857
  971
  1,092
  1,221
  1,356
  1,498
  1,647
  1,802
  1,964
  2,133
  2,309
  2,491
  2,681
  2,878
  3,083
  3,296
  3,518
  3,748
  3,988
  4,237
  4,496
  4,767
  5,049
  5,343
  5,649
Adjusted assets (=assets-cash), $m
  398
  474
  558
  650
  750
  857
  971
  1,092
  1,221
  1,356
  1,498
  1,647
  1,802
  1,964
  2,133
  2,309
  2,491
  2,681
  2,878
  3,083
  3,296
  3,518
  3,748
  3,988
  4,237
  4,496
  4,767
  5,049
  5,343
  5,649
Revenue / Adjusted assets
  0.962
  0.962
  0.962
  0.962
  0.960
  0.960
  0.961
  0.962
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
  0.961
Average production assets, $m
  217
  259
  305
  355
  409
  468
  530
  596
  666
  740
  818
  899
  984
  1,072
  1,164
  1,260
  1,360
  1,463
  1,571
  1,683
  1,799
  1,920
  2,046
  2,177
  2,313
  2,454
  2,602
  2,756
  2,916
  3,084
Working capital, $m
  65
  77
  91
  106
  122
  139
  158
  177
  198
  220
  243
  267
  293
  319
  346
  375
  405
  435
  467
  501
  535
  571
  609
  648
  688
  730
  774
  820
  868
  918
Total debt, $m
  41
  57
  73
  91
  111
  132
  154
  178
  204
  230
  258
  288
  318
  350
  383
  418
  454
  491
  530
  570
  612
  656
  701
  749
  798
  849
  902
  958
  1,016
  1,076
Total liabilities, $m
  78
  93
  110
  128
  148
  169
  191
  215
  241
  267
  295
  324
  355
  387
  420
  455
  491
  528
  567
  607
  649
  693
  738
  786
  835
  886
  939
  995
  1,053
  1,113
Total equity, $m
  320
  381
  448
  522
  602
  688
  780
  877
  980
  1,089
  1,203
  1,322
  1,447
  1,577
  1,713
  1,854
  2,001
  2,153
  2,311
  2,476
  2,647
  2,825
  3,010
  3,202
  3,402
  3,611
  3,828
  4,054
  4,290
  4,536
Total liabilities and equity, $m
  398
  474
  558
  650
  750
  857
  971
  1,092
  1,221
  1,356
  1,498
  1,646
  1,802
  1,964
  2,133
  2,309
  2,492
  2,681
  2,878
  3,083
  3,296
  3,518
  3,748
  3,988
  4,237
  4,497
  4,767
  5,049
  5,343
  5,649
Debt-to-equity ratio
  0.130
  0.150
  0.160
  0.170
  0.180
  0.190
  0.200
  0.200
  0.210
  0.210
  0.210
  0.220
  0.220
  0.220
  0.220
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.240
  0.240
  0.240
  0.240
  0.240
Adjusted equity ratio
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803
  0.803

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  3
  9
  15
  23
  31
  39
  48
  58
  69
  80
  99
  111
  124
  137
  151
  165
  180
  196
  212
  229
  246
  264
  283
  303
  323
  345
  367
  391
  415
  440
Depreciation, amort., depletion, $m
  32
  36
  41
  46
  51
  57
  63
  70
  77
  85
  82
  90
  98
  107
  116
  126
  136
  146
  157
  168
  180
  192
  205
  218
  231
  245
  260
  276
  292
  308
Funds from operations, $m
  35
  45
  56
  69
  82
  96
  112
  128
  146
  164
  181
  201
  222
  244
  267
  291
  316
  342
  369
  397
  426
  456
  488
  521
  555
  590
  627
  666
  706
  749
Change in working capital, $m
  11
  12
  14
  15
  16
  17
  19
  20
  21
  22
  23
  24
  25
  26
  27
  29
  30
  31
  32
  33
  35
  36
  37
  39
  40
  42
  44
  46
  48
  50
Cash from operations, $m
  24
  33
  43
  54
  66
  79
  93
  109
  125
  142
  158
  177
  197
  218
  240
  263
  286
  311
  337
  364
  391
  420
  450
  482
  514
  548
  584
  620
  659
  699
Maintenance CAPEX, $m
  -18
  -22
  -26
  -30
  -35
  -41
  -47
  -53
  -60
  -67
  -74
  -82
  -90
  -98
  -107
  -116
  -126
  -136
  -146
  -157
  -168
  -180
  -192
  -205
  -218
  -231
  -245
  -260
  -276
  -292
New CAPEX, $m
  -37
  -42
  -46
  -50
  -54
  -58
  -62
  -66
  -70
  -74
  -78
  -81
  -85
  -88
  -92
  -96
  -100
  -104
  -108
  -112
  -116
  -121
  -126
  -131
  -136
  -142
  -148
  -154
  -160
  -167
Cash from investing activities, $m
  -55
  -64
  -72
  -80
  -89
  -99
  -109
  -119
  -130
  -141
  -152
  -163
  -175
  -186
  -199
  -212
  -226
  -240
  -254
  -269
  -284
  -301
  -318
  -336
  -354
  -373
  -393
  -414
  -436
  -459
Free cash flow, $m
  -31
  -31
  -29
  -27
  -24
  -20
  -16
  -11
  -5
  2
  6
  14
  22
  31
  40
  50
  61
  72
  83
  95
  107
  120
  133
  146
  161
  175
  190
  206
  223
  240
Issuance/(repayment) of debt, $m
  14
  15
  17
  18
  20
  21
  23
  24
  25
  27
  28
  29
  31
  32
  33
  35
  36
  37
  39
  40
  42
  44
  45
  47
  49
  51
  53
  56
  58
  60
Issuance/(repurchase) of shares, $m
  52
  53
  52
  51
  49
  47
  43
  39
  34
  29
  15
  8
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  66
  68
  69
  69
  69
  68
  66
  63
  59
  56
  43
  37
  32
  32
  33
  35
  36
  37
  39
  40
  42
  44
  45
  47
  49
  51
  53
  56
  58
  60
Total cash flow (excl. dividends), $m
  34
  37
  40
  42
  45
  48
  50
  53
  55
  57
  49
  52
  54
  63
  74
  85
  97
  109
  122
  135
  149
  163
  178
  194
  210
  226
  244
  262
  281
  300
Retained Cash Flow (-), $m
  -55
  -61
  -67
  -74
  -80
  -86
  -92
  -98
  -103
  -109
  -114
  -119
  -125
  -130
  -136
  -141
  -147
  -152
  -158
  -165
  -171
  -178
  -185
  -192
  -200
  -208
  -217
  -226
  -236
  -246
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  13
  16
  19
  23
  26
  30
  35
  39
  44
  49
  55
  60
  66
  73
  79
  86
  93
  101
  108
  116
  124
  133
  142
  151
  161
  171
  181
  192
  204
  216
Cash available for distribution, $m
  -20
  -24
  -28
  -31
  -35
  -38
  -42
  -45
  -48
  -51
  -65
  -68
  -71
  -67
  -62
  -56
  -50
  -43
  -37
  -30
  -22
  -15
  -7
  1
  9
  18
  27
  35
  45
  54
Discount rate, %
  6.10
  6.41
  6.73
  7.06
  7.41
  7.79
  8.17
  8.58
  9.01
  9.46
  9.94
  10.43
  10.95
  11.50
  12.08
  12.68
  13.32
  13.98
  14.68
  15.41
  16.19
  16.99
  17.84
  18.74
  19.67
  20.66
  21.69
  22.77
  23.91
  25.11
PV of cash for distribution, $m
  -19
  -21
  -23
  -24
  -24
  -24
  -24
  -23
  -22
  -21
  -23
  -21
  -18
  -15
  -11
  -8
  -6
  -4
  -3
  -2
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  78.0
  63.2
  52.8
  45.4
  40.0
  36.0
  33.1
  30.8
  29.2
  28.0
  27.5
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2
  27.2

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). The ECT segment designs, develops, manufactures, packages and markets chemistries for use in oil and gas well drilling, cementing, completion and stimulation activities. Its ECT segment's services include Reservoir Characterization, Polymer Conformance and Logistics Management. The CICT segment sources citrus oil domestically and internationally, and processor of citrus oils in the world. The CICT segment designs, develops and manufactures products that are sold to companies in the flavor and fragrance industries and specialty chemical industry.

FINANCIAL RATIOS  of  Flotek Industries (FTK)

Valuation Ratios
P/E Ratio -3.5
Price to Sales 0.7
Price to Book 0.6
Price to Tangible Book
Price to Cash Flow 85.7
Price to Free Cash Flow -14.3
Growth Rates
Sales Growth Rate -2.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -12.5%
Cap. Spend. - 3 Yr. Gr. Rate -1.4%
Financial Strength
Quick Ratio 0
Current Ratio 0.8
LT Debt to Equity 2.4%
Total Debt to Equity 16.7%
Interest Coverage 3
Management Effectiveness
Return On Assets -12.1%
Ret/ On Assets - 3 Yr. Avg. -0.5%
Return On Total Capital -14.4%
Ret/ On T. Cap. - 3 Yr. Avg. -0.6%
Return On Equity -16.9%
Return On Equity - 3 Yr. Avg. -0.6%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 34.6%
Gross Margin - 3 Yr. Avg. 37%
EBITDA Margin 5.7%
EBITDA Margin - 3 Yr. Avg. 11.3%
Operating Margin 2.3%
Oper. Margin - 3 Yr. Avg. 8.4%
Pre-Tax Margin 1.1%
Pre-Tax Margin - 3 Yr. Avg. 7.7%
Net Profit Margin -18.6%
Net Profit Margin - 3 Yr. Avg. -2.2%
Effective Tax Rate 33.3%
Eff/ Tax Rate - 3 Yr. Avg. 33.2%
Payout Ratio 0%

FTK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FTK stock intrinsic value calculation we used $317 million for the last fiscal year's total revenue generated by Flotek Industries. The default revenue input number comes from 2017 income statement of Flotek Industries. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FTK stock valuation model: a) initial revenue growth rate of 20.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.1%, whose default value for FTK is calculated based on our internal credit rating of Flotek Industries, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Flotek Industries.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FTK stock the variable cost ratio is equal to 89.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $35 million in the base year in the intrinsic value calculation for FTK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.7% for Flotek Industries.

Corporate tax rate of 27% is the nominal tax rate for Flotek Industries. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FTK stock is equal to 4.2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FTK are equal to 56.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Flotek Industries operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FTK is equal to 16.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $265 million for Flotek Industries - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 58 million for Flotek Industries is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Flotek Industries at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
SLB Schlumberger 66.09 25.48  str.sell
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DRQ Dril-Quip 56.50 21.81  sell

COMPANY NEWS

▶ Kate Richard Joins Flotek Board Of Directors   [Jul-12-18 04:05PM  PR Newswire]
▶ David Nierenberg Joins Flotek Board Of Directors   [Jun-04-18 08:25AM  PR Newswire]
▶ Near a 7-Year Low, Is This Energy Stock a Buy?   [May-21-18 08:35AM  Motley Fool]
▶ Flotek Industries: 1Q Earnings Snapshot   [May-10-18 05:08AM  Associated Press]
▶ Flotek Introduces New Product Line   [Apr-25-18 04:35PM  PR Newswire]
▶ New Strong Buy Stocks for April 3rd   [Apr-03-18 10:50AM  Zacks]
▶ Top 10 Stocks Under $20   [Mar-29-18 12:57PM  Zacks]
▶ Flotek Announces Leadership Changes   [Mar-22-18 06:00PM  PR Newswire]
▶ New Strong Buy Stocks for March 14th   [Mar-14-18 09:42AM  Zacks]
▶ When Should You Buy Flotek Industries Inc (NYSE:FTK)?   [Mar-08-18 11:47AM  Simply Wall St.]
▶ Walmart Is One of 6 Big Names Ready to Change Direction   [Feb-26-18 02:00PM  TheStreet.com]
▶ Flotek Industries reports 4Q loss   [Feb-20-18 07:35PM  Associated Press]
▶ Wall Streets Forecasts for NOV ahead of 4Q17 Earnings   [Jan-26-18 07:30AM  Market Realist]
▶ Hows Halliburton Reacting to Crude Oils Price Change?   [Jan-25-18 11:10AM  Market Realist]
▶ How National Oilwell Varco Performed in 3Q17   [09:03AM  Market Realist]
▶ Flotek Expands Lines of Chemistry Technologies   [Jan-22-18 07:18PM  PR Newswire]
▶ EnerCom Dallas Announces 2018 Conference Presenters   [Jan-18-18 05:44PM  PR Newswire]
▶ Halliburton Reacts to Crude Oils Price Change   [Jan-16-18 02:05PM  Market Realist]
▶ Baker Hughes Reacts to Crude Oil Price Changes   [Jan-11-18 02:35PM  Market Realist]
▶ What Wall Street Recommends for NOG, JONE, FTK, and WFT   [Jan-05-18 07:34AM  Market Realist]
▶ How Did Schlumberger React to Crude Oil Prices Last Week?   [Jan-03-18 05:50PM  Market Realist]
▶ Former Flotek CEO Jerry Dumas died   [08:50AM  American City Business Journals]
▶ Hows Halliburton Reacting to the Change in Crude Oil Prices?   [Dec-26-17 03:25PM  Market Realist]
▶ How Schlumberger Reacted to Crude Oil Prices Last Week   [Dec-18-17 03:55PM  Market Realist]
▶ What Are Schlumbergers New Plans with SPM Projects?   [Dec-04-17 05:20PM  Market Realist]
▶ 3 Stocks Set to Drop   [11:42AM  Motley Fool]
▶ Analyzing Wall Streets Targets for NOG, SGY, FTK, and WFT   [Dec-01-17 07:33AM  Market Realist]
▶ Oilfield Services Gainers: FTK, FTI, DRQ, RES, and NOV   [Nov-30-17 07:36AM  Market Realist]
▶ Wall Street Targets for the Worst-Performing Oilfield Stocks   [Nov-27-17 10:32AM  Market Realist]
▶ The 5 Worst Oilfield Companies by Market Returns   [Nov-24-17 04:16PM  Market Realist]
▶ How Did Schlumberger React to Price of Crude Oil Last Week?   [Nov-20-17 03:30PM  Market Realist]
▶ How Weatherford Reacted to Crude Oil Prices   [07:32AM  Market Realist]
▶ What We Can Forecast for TechnipFMC Next Week   [07:32AM  Market Realist]
▶ Shares of Flotek Industries Tank on Earnings Loss   [Nov-08-17 12:21PM  Motley Fool]
▶ Flotek Industries reports 3Q loss   [07:53AM  Associated Press]
▶ How Did Weatherford React to Crude Oil Price Changes?   [Nov-06-17 03:10PM  Market Realist]
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