Flowco (NYSE:FLOC) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Flowco (NYSE:FLOC – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other research firms also recently weighed in on FLOC. Piper Sandler dropped their price target on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Citigroup decreased their price target on Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Finally, Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.40.

Read Our Latest Stock Analysis on Flowco

Flowco Stock Performance

Shares of FLOC stock opened at $18.98 on Friday. Flowco has a one year low of $14.65 and a one year high of $28.26. The stock has a market cap of $1.71 billion, a P/E ratio of 15.30 and a beta of 1.04. The company has a fifty day moving average price of $20.48 and a two-hundred day moving average price of $21.93. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.67 and a quick ratio of 1.33.

Flowco (NYSE:FLOC – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $235.86 million for the quarter. Flowco had a return on equity of 35.21% and a net margin of 6.07%. As a group, equities analysts predict that Flowco will post 1.29 EPS for the current year.

Flowco Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were paid a $0.14 dividend. The ex-dividend date was Friday, August 21st. Flowco’s dividend payout ratio is 29.03%.

Institutional Trading of Flowco

A number of large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in shares of Flowco by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock worth $166,000 after purchasing an additional 1,557 shares during the last quarter. Corient Private Wealth LP purchased a new position in shares of Flowco in the second quarter valued at $898,000. Bank of America Corp DE grew its position in shares of Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after purchasing an additional 361,721 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Flowco by 24.4% during the 1st quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock valued at $2,639,000 after purchasing an additional 25,144 shares during the period. Finally, Rice Hall James & Associates LLC raised its stake in shares of Flowco by 1.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock valued at $3,416,000 after purchasing an additional 3,009 shares during the period.

About Flowco

(Get Free Report)

Flowco Holdings Inc is an energy-services company that provides production optimization and emissions-reduction solutions to oil and natural gas producers. The company focuses on technologies and services that help operators improve the performance, reliability and efficiency of producing wells.

Its offerings include artificial-lift systems, wellhead compression, vapor recovery and other equipment designed to support oil and gas production. Flowco also provides automation, monitoring and related field services intended to help customers manage production operations and reduce emissions from their assets.

Flowco serves customers across major U.S.

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