Flowco (NYSE:FLOC) Upgraded to Buy at Wall Street Zen

by · The Markets Daily

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

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

Check Out Our Latest Stock Analysis on Flowco

Flowco Trading Up 2.6%

Shares of NYSE:FLOC opened at $18.80 on Friday. Flowco has a 52 week low of $14.06 and a 52 week high of $28.26. The company’s 50 day moving average is $20.55 and its two-hundred day moving average is $21.93. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.70 billion, a PE ratio of 15.16 and a beta of 1.04.

Flowco (NYSE:FLOC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $235.86 million during the quarter. Flowco had a net margin of 6.07% and a return on equity of 35.21%. Equities analysts predict that Flowco will post 1.29 earnings per share for the current fiscal year.

Flowco Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 21st. Flowco’s dividend payout ratio (DPR) is presently 29.03%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FLOC. Bank of America Corp DE raised its stake in Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock worth $9,727,000 after acquiring an additional 361,721 shares in the last quarter. Renaissance Technologies LLC lifted its position in Flowco by 237.6% in the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock valued at $8,158,000 after acquiring an additional 278,700 shares during the last quarter. Emerald Advisers LLC acquired a new position in Flowco in the first quarter valued at $7,971,000. Walleye Capital LLC acquired a new position in Flowco in the first quarter valued at $6,121,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Flowco during the first quarter worth about $4,765,000.

Flowco Company Profile

(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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