Flowco (NYSE:FLOC) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Flowco (NYSE:FLOC) from a buy rating to a hold rating in a research report released on Monday.

Several other equities research analysts have also issued reports on the stock. Citigroup started coverage on shares of Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price for the company. Piper Sandler decreased their price target on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Zacks Research cut shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 target price on shares of Flowco in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.20.

Flowco Price Performance

Shares of NYSE FLOC opened at $23.40 on Monday. The stock’s 50-day simple moving average is $21.37 and its two-hundred day simple moving average is $22.62. Flowco has a twelve month low of $14.03 and a twelve month high of $28.26. The firm has a market capitalization of $2.11 billion, a P/E ratio of 18.87 and a beta of 0.90. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84.

Flowco (NYSE:FLOC) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a net margin of 6.07% and a return on equity of 35.21%. The business had revenue of $235.86 million for the quarter. As a group, equities analysts anticipate that Flowco will post 1.51 EPS for the current fiscal year.

Flowco Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 21st. Flowco’s dividend payout ratio is currently 29.03%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flowco in the 1st quarter worth approximately $298,000. Goldman Sachs Group Inc. bought a new position in shares of Flowco during the 1st quarter valued at $878,000. Woodline Partners LP bought a new position in shares of Flowco during the 1st quarter valued at $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Flowco in the 1st quarter worth $3,070,000. Finally, Strs Ohio bought a new stake in Flowco in the first quarter worth $92,000.

Flowco Company Profile

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.