Flowco (NYSE:FLOC) Rating Lowered to “Hold” at Wall Street Zen

Flowco (NYSE:FLOC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday, Wall Street Zen reports.

FLOC has been the subject of several other research reports. Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Piper Sandler reduced their price objective on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Citigroup lowered their target price on Flowco from $30.81 to $27.00 and set a “neutral” rating for the company in a report on Thursday, September 3rd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.40.

Flowco Trading Up 0.5%

NYSE FLOC opened at $19.73 on Friday. The stock has a market cap of $1.78 billion, a PE ratio of 15.91 and a beta of 1.04. Flowco has a 12 month low of $15.17 and a 12 month high of $28.26. The company’s 50-day moving average price is $20.13 and its 200-day moving average price is $21.81. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84.

Flowco (NYSE:FLOC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The company had revenue of $235.86 million for the quarter. Flowco had a net margin of 6.07% and a return on equity of 35.21%. Equities research analysts forecast that Flowco will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On Flowco

Several institutional investors have recently bought and sold shares of FLOC. State of Alaska Department of Revenue increased its holdings in shares of Flowco by 20.3% during the third quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company’s stock valued at $166,000 after acquiring an additional 1,557 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Flowco during the 1st quarter worth approximately $369,000. Y Intercept Hong Kong Ltd purchased a new stake in Flowco during the 1st quarter worth approximately $602,000. Corient Private Wealth LP acquired a new position in Flowco during the 2nd quarter valued at approximately $898,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Flowco in the first quarter worth $1,099,000.

Flowco Company Profile

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.