Piper Sandler Issues Positive Forecast for Flowco (NYSE:FLOC) Stock Price

Flowco (NYSE:FLOC) had its price objective lifted by Piper Sandler from $28.00 to $32.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

FLOC has been the subject of several other reports. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 target price on shares of Flowco in a research note on Monday, February 2nd. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Evercore reiterated an “outperform” rating and set a $25.00 price objective on shares of Flowco in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Finally, Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.25.

Flowco Stock Up 0.9%

FLOC traded up $0.21 on Friday, reaching $23.31. The company’s stock had a trading volume of 370,141 shares, compared to its average volume of 346,475. Flowco has a 1 year low of $14.03 and a 1 year high of $26.74. The business’s 50 day moving average is $21.15 and its 200 day moving average is $18.02. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.34 and a quick ratio of 1.42. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 19.75 and a beta of -0.16.

Flowco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, February 13th. Flowco’s dividend payout ratio is currently 27.12%.

Insider Transactions at Flowco

In other Flowco news, EVP Chad Roberts sold 54,706 shares of Flowco stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total value of $1,224,867.34. Following the completion of the transaction, the executive vice president owned 67,008 shares of the company’s stock, valued at $1,500,309.12. The trade was a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 144,043 shares of company stock worth $3,056,720 in the last quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in shares of Flowco by 8,929.4% in the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after buying an additional 1,518 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Flowco during the fourth quarter worth about $29,000. Aster Capital Management DIFC Ltd bought a new position in Flowco in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC boosted its stake in Flowco by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after acquiring an additional 1,292 shares during the period. Finally, CWM LLC grew its holdings in shares of Flowco by 183.6% during the third quarter. CWM LLC now owns 3,667 shares of the company’s stock valued at $54,000 after purchasing an additional 2,374 shares during the last quarter.

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.