Flowco (NYSE:FLOC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Flowco (NYSE:FLOC) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

FLOC has been the subject of several other research reports. Piper Sandler lowered their target price on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price target on shares of Flowco in a report on Thursday, May 7th. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Citigroup started coverage on Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price for the company. Finally, Weiss Ratings cut Flowco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.20.

Flowco Stock Performance

NYSE FLOC opened at $22.59 on Monday. The business’s 50 day moving average price is $21.32 and its 200-day moving average price is $22.66. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $28.26. The company has a market cap of $2.04 billion, a P/E ratio of 18.21 and a beta of 0.90. 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 (NYSE:FLOC) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a return on equity of 35.21% and a net margin of 6.07%.The company had revenue of $235.86 million during the quarter. Sell-side analysts predict that Flowco will post 1.51 earnings per share for the current year.

Flowco Dividend Announcement

The business also recently announced a special dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be paid a $0.14 dividend. The ex-dividend date is Friday, August 21st. Flowco’s dividend payout ratio is currently 29.03%.

Institutional Trading of Flowco

Institutional investors and hedge funds have recently modified their holdings of the stock. Verition Fund Management LLC boosted its holdings in shares of Flowco by 4.4% in the third quarter. Verition Fund Management LLC now owns 23,997 shares of the company’s stock valued at $356,000 after purchasing an additional 1,012 shares during the period. Deutsche Bank AG raised its position in Flowco by 9.7% during the 4th quarter. Deutsche Bank AG now owns 13,858 shares of the company’s stock valued at $260,000 after purchasing an additional 1,223 shares in the last quarter. Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 1,292 shares in the last quarter. Parallel Advisors LLC lifted 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 worth $29,000 after buying an additional 1,518 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in shares of Flowco during the 4th quarter worth $29,000.

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.