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

Wall Street Zen upgraded shares of Flowco (NYSE:FLOC) from a hold rating to a buy rating in a report published on Saturday.

FLOC has been the subject of a number of other reports. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Piper Sandler reiterated an “overweight” rating on shares of Flowco in a report on Tuesday, December 9th. Jefferies Financial Group restated a “buy” rating and issued a $30.00 price objective on shares of Flowco in a report on Monday, February 2nd. Evercore reiterated an “outperform” rating and set a $25.00 target price on shares of Flowco in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Flowco currently has an average rating of “Moderate Buy” and an average price target of $28.20.

Flowco Stock Up 7.5%

Shares of NYSE FLOC opened at $22.86 on Friday. The stock has a market cap of $2.05 billion and a P/E ratio of 7.62. The business’s fifty day simple moving average is $19.28 and its 200-day simple moving average is $17.30. Flowco has a 12-month low of $14.03 and a 12-month high of $29.14. The company has a current ratio of 2.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.63.

Flowco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, February 13th. Flowco’s payout ratio is presently 10.67%.

Insiders Place Their Bets

In other Flowco news, EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the transaction, the executive vice president directly owned 67,008 shares of the company’s stock, 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 available at the SEC website. In the last ninety days, insiders have sold 163,500 shares of company stock worth $3,419,009.

Institutional Trading of Flowco

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after purchasing an additional 1,206,020 shares during the period. American Century Companies Inc. lifted its stake in shares of Flowco by 1.5% in the 3rd quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock worth $41,148,000 after acquiring an additional 40,479 shares during the period. Vanguard Group Inc. increased its stake in shares of Flowco by 6.9% during the third quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock worth $27,447,000 after acquiring an additional 118,628 shares during the period. Encompass Capital Advisors LLC raised its holdings in Flowco by 84.0% during the second quarter. Encompass Capital Advisors LLC now owns 984,301 shares of the company’s stock worth $17,530,000 after purchasing an additional 449,498 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Flowco by 37.6% in the third quarter. Schroder Investment Management Group now owns 687,713 shares of the company’s stock valued at $10,522,000 after purchasing an additional 187,827 shares during the period.

About Flowco

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.