Flowco (NYSE:FLOC) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Flowco (NYSE:FLOC) from a hold rating to a buy rating in a research report released on Sunday.

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

Flowco Trading Up 0.1%

NYSE FLOC opened at $21.81 on Friday. Flowco has a 52 week low of $14.03 and a 52 week high of $28.26. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.48 and a current ratio of 3.09. The stock’s 50 day moving average price is $21.38 and its two-hundred day moving average price is $22.51. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 18.64 and a beta of 0.90.

Flowco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 14th. Flowco’s dividend payout ratio is presently 30.77%.

Hedge Funds Weigh In On Flowco

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after buying an additional 361,721 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Flowco by 24.4% during the 1st quarter. Lazard Asset Management LLC now owns 128,118 shares of the company’s stock worth $2,639,000 after acquiring an additional 25,144 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Flowco by 1.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company’s stock worth $3,416,000 after acquiring an additional 3,009 shares during the last quarter. Renaissance Technologies LLC raised its stake in Flowco by 237.6% in the 1st quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock valued at $8,158,000 after acquiring an additional 278,700 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Flowco during the 1st quarter valued at $369,000.

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.