Zacks Research Upgrades Flowco (NYSE:FLOC) to Hold

Flowco (NYSE:FLOC) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

FLOC has been the topic of several other research reports. Citigroup dropped their price objective 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. Piper Sandler decreased their target price on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen lowered Flowco from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Flowco presently has an average rating of “Moderate Buy” and a consensus target price of $28.40.

Flowco Stock Up 1.4%

Shares of NYSE:FLOC opened at $19.53 on Monday. The company’s fifty day moving average is $20.70 and its two-hundred day moving average is $21.99. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. Flowco has a 1-year low of $14.06 and a 1-year high of $28.26. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 15.75 and a beta of 1.04.

Flowco (NYSE:FLOC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate 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 during the quarter. Equities analysts anticipate that Flowco will post 1.28 EPS for the current year.

Hedge Funds Weigh In On Flowco

Several hedge funds and other institutional investors have recently modified their holdings of FLOC. Corient Private Wealth LP bought a new position in shares of Flowco during the second quarter worth about $898,000. Bank of America Corp DE increased its holdings in shares of Flowco by 327.4% in 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 during the period. Lazard Asset Management LLC lifted its position in Flowco by 24.4% in the 1st quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock valued at $2,639,000 after purchasing an additional 25,144 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in Flowco by 1.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock valued at $3,416,000 after purchasing an additional 3,009 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Flowco by 237.6% during the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock valued at $8,158,000 after purchasing an additional 278,700 shares during the period.

Flowco Company Profile

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.