Flowco (NYSE:FLOC) Coverage Initiated at Citigroup

Investment analysts at Citigroup began coverage on shares of Flowco (NYSE:FLOC) in a research note issued to investors on Thursday. The firm set a “neutral” rating and a $31.00 price target on the stock. Citigroup’s target price indicates a potential upside of 21.09% from the company’s current price.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Piper Sandler lifted their target price on Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Zacks Research downgraded Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings cut shares of Flowco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price target 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Flowco Stock Down 4.4%

Shares of FLOC opened at $25.60 on Thursday. The company has a market capitalization of $2.31 billion, a PE ratio of 21.88 and a beta of 0.96. Flowco has a 12 month low of $14.03 and a 12 month high of $28.26. The stock’s 50-day moving average price is $23.87 and its two-hundred day moving average price is $21.23. The company has a current ratio of 3.09, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

Insider Buying and Selling at Flowco

In related news, Director Jonathan B. Fairbanks sold 7,800,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $21.18, for a total value of $165,204,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 69.76% of the company’s stock.

Institutional Trading of Flowco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in Flowco in the 4th quarter valued at about $29,000. Parallel Advisors LLC increased its position in 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Flowco in the 4th quarter worth about $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock worth $47,000 after acquiring an additional 1,292 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Flowco in the 1st quarter worth about $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.