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

Flowco (NYSE:FLOC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on the stock. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Citigroup cut their price target on shares of Flowco from $30.81 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Piper Sandler lowered their price objective 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. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.25.

Flowco Price Performance

NYSE:FLOC opened at $20.06 on Friday. Flowco has a 1 year low of $15.72 and a 1 year high of $28.26. The stock has a 50-day moving average price of $19.70 and a two-hundred day moving average price of $21.82. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 15.20 and a beta of 0.92. The company has a current ratio of 3.19, a quick ratio of 1.99 and a debt-to-equity ratio of 0.69.

Flowco (NYSE:FLOC) last released 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). Flowco had a return on equity of 33.93% and a net margin of 6.36%. The business had revenue of $235.86 million for the quarter. As a group, equities analysts expect that Flowco will post 1.36 earnings per share for the current year.

Insider Activity

In other news, Director Jonathan Fairbanks acquired 15,140 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average cost of $19.35 per share, for a total transaction of $292,959.00. Following the completion of the acquisition, the director owned 30,765 shares in the company, valued at $595,302.75. This represents a 96.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 69.76% of the company’s stock.

Institutional Investors Weigh In On Flowco

Several institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC acquired a new position in Flowco during the third quarter worth $592,000. Russell Investments Group Ltd. grew its position in Flowco by 815.0% in the third quarter. Russell Investments Group Ltd. now owns 83,558 shares of the company’s stock valued at $1,512,000 after purchasing an additional 74,426 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Flowco in the 3rd quarter valued at $533,000. CenterBook Partners LP bought a new stake in Flowco during the 3rd quarter worth about $1,092,000. Finally, State of Alaska Department of Revenue lifted its position in 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 buying an additional 1,557 shares in the last quarter.

About Flowco

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company’s offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.