Piper Sandler Forecasts Strong Price Appreciation for Flowco (NYSE:FLOC) Stock

by · The Cerbat Gem

Flowco (NYSE:FLOC – Get Free Report) had its price target upped by stock analysts at Piper Sandler from $28.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 38.47% from the company’s current price.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. BMO Capital Markets raised their target price on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Evercore reiterated an “outperform” rating and set a $25.00 price target on shares of Flowco in a research report on Thursday, November 6th. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flowco in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Flowco presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Read Our Latest Report on FLOC

Flowco Price Performance

NYSE:FLOC opened at $23.11 on Friday. The firm has a market cap of $2.07 billion, a PE ratio of 19.58 and a beta of -0.16. The company’s 50-day moving average price is $21.05 and its two-hundred day moving average price is $17.97. The company has a quick ratio of 1.42, a current ratio of 3.34 and a debt-to-equity ratio of 0.78. Flowco has a 12 month low of $14.03 and a 12 month high of $26.74.

Insider Buying and Selling at Flowco

In other news, EVP Chad Roberts sold 54,706 shares of Flowco stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total value of $1,224,867.34. Following the transaction, the executive vice president owned 67,008 shares in the company, valued at approximately $1,500,309.12. This trade represents a 44.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 144,043 shares of company stock valued at $3,056,720.

Institutional Trading of Flowco

Several large investors have recently bought and sold shares of FLOC. Invesco Ltd. raised its stake in Flowco by 15.2% during the fourth quarter. Invesco Ltd. now owns 61,268 shares of the company’s stock worth $1,148,000 after acquiring an additional 8,074 shares in the last quarter. VARCOV Co. bought a new stake in shares of Flowco during the 4th quarter valued at approximately $199,000. Wellington Management Group LLP acquired a new position in Flowco during the 4th quarter worth approximately $12,753,000. Man Group plc lifted its stake in Flowco by 26.7% in the 4th quarter. Man Group plc now owns 73,181 shares of the company’s stock valued at $1,371,000 after purchasing an additional 15,443 shares during the last quarter. Finally, Encompass Capital Advisors LLC boosted its position in Flowco by 21.8% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after buying an additional 268,903 shares in the last quarter.

Flowco Company Profile

(Get Free Report)

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.

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