Flowco (NYSE:FLOC) Rating Lowered to Hold at Zacks Research

Flowco (NYSE:FLOC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of Flowco from a “sell (d)” rating to a “hold (c)” rating in a report on Friday. Piper Sandler lifted their price target on shares of Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Wall Street Zen downgraded Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flowco in a research report on Monday, February 2nd. Finally, BMO Capital Markets lifted their target price on Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Flowco presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

Flowco Stock Performance

NYSE FLOC opened at $25.23 on Monday. The business’s 50-day moving average price is $22.72 and its 200 day moving average price is $20.03. The company has a current ratio of 3.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.78. Flowco has a twelve month low of $14.03 and a twelve month high of $25.76. The company has a market capitalization of $2.26 billion, a PE ratio of 21.38 and a beta of 0.96.

Flowco (NYSE:FLOC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.23 EPS for the quarter. The company had revenue of $209.53 million during the quarter. Flowco had a net margin of 5.45% and a return on equity of 134.72%. On average, research analysts predict that Flowco will post 1.53 earnings per share for the current year.

Insider Activity

In other news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $21.18, for a total value of $24,780,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 69.76% of the stock is owned by insiders.

Institutional Trading of Flowco

Large investors have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT purchased a new position in Flowco in the fourth quarter valued at about $29,000. Parallel Advisors LLC boosted its position in shares of Flowco by 8,929.4% in the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after buying an additional 1,518 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Flowco in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after buying an additional 1,292 shares during the period. Finally, Strs Ohio acquired a new position in Flowco during the 1st quarter worth approximately $92,000.

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.